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To: Joe Copia who wrote (51884)	6/20/2000 12:16:00 PM
From: Jim Bishop	Read Replies (2) \| Respond to of 150070

STBY get out your calculator. "Currently, the Dillon mine and mill are undergoing various upgrades, and daily production has been steadily increasing. Mill output has exceeded the requirements of the Company'svexfoliating plant in Los Banos, California, and the Company now plans on entering the market for the sale of vermiculite concentrate. Recent prices for such concentrate have been averaging $165.00 per ton. The Company expects to sell all concentrate production in excess of the 20 tons per day required by the Los Banos facility. Production is currently approaching 30 tons per day, and is expected to reach design capacity of 100 tons per day by mid to late summer. The Los Banos facility is currently selling its production capacity to the local horticulture market in the San Joaquin valley, at an average price of $1.65 per cubic foot, or the equivalent of $460 per ton of exfoliated product.