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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: Robert J Mullenbach who wrote (11097)	8/4/1999 4:56:00 PM
From: Robert J Mullenbach	Respond to of 14226

The Story of Global Platinum and Gold, Inc., (GPGI) The story of this small Nevada based company is all but amazing. It's probably just another story of American Entrepreneurship, but it's also one that the financial community knows all but nothing about at present. The actual story starts back at the turn of the century when in the Oro Grande mine (located in Wickenburg, Az) was shipping gold and silver to the San Francisco mint. It was common knowledge in the mining community that the Oro Grande had substantial reserves remaining when it was abandoned in the early 1900's. However, the real value of this mining site wasn't realized until the mid 1980's. I personally stumbled onto the company in an article which appeared in The Investors Business Daily back in 1988. Global Platinum and Gold is incorporated in Nevada, has its mining sites in Arizona, and Mr. Richard E. Jensen, the President, lives in Salt Lake City, UT. The actual name of the company when chartered was Global Energy Ltd. and the company was involved in the potential mining of uranium deposits at that time. When the Three Mile Island problem developed, Mr. Jensen decided to turn the company's attention to other areas, primarily precious metals. In researching the records of the Oro Grande mine, a very exciting discovery was made. It appeared that much of the metals being sent to the mint some 80 years earlier was actually being discarded. This unusable metal at the time, turned out to be platinum and most of the platinum group metals (PGMs). Global quickly made the decison to pursue the commerical possiblilties of this mining area. It also decided to proceed in a direction which didn't follow the norm. It didn't initiate an IPO (Initial Public Offering). It didn't make large committments to debt funding and it didn't take on any salaried overhead. Global's approach was to commit to research, use volunteer executives, tighten its belt and fund itself on a pay-as-you-go and as-needed basis. Almost 10 years later, Global has held true to that philosophy and it's all about to pay off in a big way. But first, back to the story of Global Platinum and Gold's growing pains. Still trades, bid and ask. Market Makers still making it on the spread. happy trading.