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Gold/Mining/Energy : BLUE DESERT MINING, BDE-ASE -- Ignore unavailable to you. Want to Upgrade?

To: Andrew Farquharson who wrote (634)	3/22/2000 12:20:00 AM
From: Dale Schwartzenhauer	Respond to of 673

Andrew: As far as I know the meeting went off without a hitch. I received several of the notices and ballots, and voted in favor on each one. I feel the prospects are at least as good as when the company went public in 1996. They will have one major industrial mineral project in development, the Pogo gold properties under option to Anglo Gold, and I believe they still have the copper prospects in Chile. A financing of $3 million is to be done at C$0.60 prior to re-opening for trading. The numbers for the fluorspar property look very good to me: 180,000 tons of annual output with a gross margin of about $90-$100 US/ton; mine life is estimated at 15 years. They are supposed to have a 10 year tax holiday in Newfoundland, in addition to port improvements to handle large cargo ships. I haven't computed a bottom line or a cash flow projection, as we have plenty of time for that. In short, I'm very optimistic. Dale