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Gold/Mining/Energy : NDT VENTURES -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (934)	1/4/2001 10:07:48 PM
From: russwinter	Respond to of 992

25.6 million out times 15= US 2.6 million Cash is about US 2 million. Enterprise value is 600 K. It would cost them 11.15 million to buy in to 80% (1.6 million) of a two million ounce deposit, and they need to spend 2 1/4 million on the project. Certainly a three or four bagger (@ 275) is achievable if cash costs were even 150.

To: Elizabeth Andrews who wrote (934)	1/4/2001 11:08:50 PM
From: charred	Read Replies (2) \| Respond to of 992

Elizabeth, exploration at Antañas will be cheap. Remember that company PFG, I believe they spent 2 to 3 million even before they drilled their first hole. The next round of drilling will cost another half million. They should know then to continue or save their money. cheers