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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: jpthoma1 who wrote (256)	10/20/2001 11:07:28 AM
From: loantech	Respond to of 39344

jp, Thanks for the reply. Your thoughts are much more educated than mine and much appreciated. Here is another angle.If this discovery "pans" out we have an area that is politically safe, currency safe, as per Jim S. environmentally approachable, easily developable infrastructure. This could make the deposit worth several times more than a like project in Turkey, Argentina, Africa etc. Of course that is just my opinion. The stock sure had a good bounce on Friday. Tom

To: jpthoma1 who wrote (256)	10/20/2001 4:21:10 PM
From: Brumell	Read Replies (2) \| Respond to of 39344

Thanks for your comments, JP. Sounds encouraging. Any idea what true width might be? Their latest results surprised me. Suddenly they seemed to change from a large tonnage porphry to a very rich vein deposit. Unfortunately I can't see their grid as shown in the Aug. 8th NR. For some reason it won't show on my computer although first 2 pages of that NR do. Frustrating! Perhaps we have a winner. Now that's a happy thought :-) Bob

To: jpthoma1 who wrote (256)	10/21/2001 2:29:56 PM
From: russwinter	Read Replies (1) \| Respond to of 39344

SUL: looks great, but I just flat out missed it. Used my standard strategy of dip buying, inside the spread, AONs, etc. Didn't work this time. However, the one I'm "pumped" (to borrow a term from one of our favorite posters) about is NGT at Salamandra. They already have a substantial deposit, only to get better. Go to projects, then Salamandra. Will bring up the nine images I will reference: nationalgold.com Few points: After latest PP: 19.47 M shares= US 1.85 M @ 15 c, with 625K US cash. Payable of 425K due to PDG 12/01. I think that will be about it selling shares at cheap prices, as Chester Millar has been brought in as a JV to earn 50% with an US$1.5 million development program designed to prepare the high grade Estrella zone (1,163,000 @ 3.16 g) for a production decision. NGT will take the first US 2M of operating profit when this comes on line. The plan is to use this and additional production to fund the US 5.4 M payment due to PDG by 12-04 as well as to further JV the entire concession. Apparently some of NGT's shareholders are having a tizzy fit about this deal, so some last minute get on board cheap shares are coming to market. This reaction is nonsense for the simple reason that although some components of Mulatos are advanced, Salamandra in total is a HUGE epithermal prospect (see image 3), that will require: 1. Capital 2. Real expertise. This is NOT a project for one small "dealmaker" junior to pursue in a capital constrained market, and without the right team. And this vehicle at least initially deals with 1, and clearly takes care of 2. I've talked with both parties, and others about what's about to transpire. This is not going to be a huge drilling program, but everybody says the same thing: 1. Estrella can be expanded more. I'd invite others to comment on the cross sections, but look at the bonanza holes in 4225N (image 9). Not too hard to see where some more closely spaced holes in that heart of the melon could be exciting? The eastern holes missed most of the orebody as the structures appear to run obliquely to the drill pattern there. The rest of Estrella has lots of tantalizing stuff: 4200 has a interval of 33g starting at 25m below surface. A glance at the other sections (images 6,7, 8) should illustrate my point. 2. PDG brought in infrared spectrometry late in their program, and drilled solo holes to test two of the seven remaining gold systems. They immediately hit (see image 4) at El Victor 26m @ 4.2 g, and 46m @ 3.08 g at San Carlos (including 40m of 4.45% Cu). Of course these need to be followed up using the same technology. The initial capital formation and deal making period for NGT is over. Now it gets very interesting. For the life of me, I can't figure out why people are chasing after Donlin Creek (PDG's other junior deal) in remote Alaska with this sitting here?