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Gold/Mining/Energy : Exall Resources/Glimmer Resources -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (1176)	5/14/2002 2:54:15 PM
From: winzer5	Respond to of 1319

Except when you get to days like to today? They're pounding the heck out of gold in New York today. Which is why the "committee" has to ensure that this is a sustained rally before returning to production. The dollar must be strong today? Winzer

To: baystock who wrote (1176)	5/20/2002 9:03:17 PM
From: winzer5	Respond to of 1319

Does the RECYCLED news release give up hope fo ra speedy re-opening? Not to mention the recent rise in the POG. Let's say that we shut down in May of 2001, when the POG was an average of US$245. Today it jumped over $4.00 to about $316. Must be getting close to decision time? NOTE: The year is 2001. Winzer Glimmer Resources Inc GME Shares issued 6,028,962 May 23 2001 close $.250 Wednesday May 30 2001 News Release Mr. Richard McCloskey reports Financial results for the first quarter ended March 31, 2001, compared with March 31, 2000, were as follows: Revenues were $1,840,879 compared with $2,571,424. Net loss was $823,123 compared with a loss of $230,549. Loss per share was 13 cents compared with a loss of four cents. The first quarter continued to be a difficult one for the gold mining industry generally, as gold prices remained at 20-year lows. As previously reported, the Glimmer mine temporarily suspended operations on May 10, subsequent to the end of the first quarter, in light of continuing low gold prices. Management of Glimmer, together with Exall Resources Limited, its joint venture partner and the operator of the Glimmer mine, continues to work diligently to restore production as soon as possible. "We must resolve the financial situation to fund development drilling in order to define reserves that have been previously indicated at depth. Defining targets for future planning and production is our main objective," said Glimmer president Richard (Bo) McCloskey. Roscoe Postle Associates Inc., an independent geological and mining consultant, audited the ore reserve calculations of the operator at the end of Feburary of this year. The Roscoe Postle study concluded that the minable reserve to a vertical depth of 200 metres is 777,982 tonnes of ore grading 8.92 grams per tonne for a contained total of approximately 217,000 ounces of gold. Mr. McCloskey noted that the Glimmer mine, which has produced in excess of 200,000 ounces since commissioning in 1997, has shown remarkable resilience during its four years of operation in a difficult market. During the first quarter of this year, the mine produced 63,028 tonnes of ore grading 6.14 grams gold per tonne compared with 69,473 tonnes grading 7.14 grams per tonne in the comparable period of 2000. The mine produced 8,957 ounces of gold in the latest quarter compared with 12,717 ounces in the comparable period a year earlier. Production was adversely affected by lower-than-anticipated grades encountered, as well as a longer shutdown and start-up period in January. (c) Copyright 2002 Canjex Publishing Ltd. canada-stockwatch.com