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Gold/Mining/Energy : Flag Resources (FGR.A A) -- Ignore unavailable to you. Want to Upgrade?

To: RJ2 who wrote (2345)	2/22/2000 4:59:00 PM
From: Stephen Mooney	Respond to of 4269

RJ2 - You are obviously DREAMING big-time. Sure Flag and Glb might hit intersections of 2 ounces per ton Palladium over very small intersections but 1/31 of that percentage should be enough to make a profitable mine as long as that grade is the average over a large area. It would be nice to see some 'Bonanza Grade' ore intersections but I will be VERY happy to see readings of over 2-3 gms Palladium per ton over a large area. (And of course there would be other 'sweeteners' to make the extra profit!)

To: RJ2 who wrote (2345)	2/22/2000 5:03:00 PM
From: jbr29	Read Replies (1) \| Respond to of 4269

RJ2, No forward selling is in the cards. Forward selling requires collateralizable assets (or money in the bank) to ensure the bank/counterparty of your ability to deliver. Flag has neither. Once Flag drills enough holes to prove a commercially viable reserve (read bankable asset), then forward sales become feasible, but that would most likely be at least two years down the road. A more likely scenario (if initial PGM assays prove favourable) is a JV with a producer confident enough in the future productive capability of Flags' holdings that the partner would forward sell against its own credit line.

To: RJ2 who wrote (2345)	2/22/2000 5:16:00 PM
From: ali	Read Replies (3) \| Respond to of 4269

Hi RJ2, 2 oz/t ?? I would be just happy 2g/t!! If murdo would tell us we'd have 2 oz/t we did not have to have that much, like a couple a hundred thousand tons would do and investors would flock to flag like the bees to honey.No problem to find development money either I'd guess.Development time? would not want to guess that one either , but could be 2 years,even if Falconbridge or Inco would volunteer their milling facilities. That the price of palladium would soften by then, would not surprise me, I even expect that.However, with the increase of the industrial use of palladium and limited supply coming on the market, there will be a firm price for palladium for a long time to come,I expect.