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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (740)	7/23/2002 11:54:06 PM
From: jackjc	Respond to of 5423

Thanks Marcos; you apparently have been around this track enough times to accept bargains when handed out and patience to wait for your reward. From June AAS AGM, plan is for contractor to only strip and expose 100kT ore with his 85T trucks. Then AAS will load 20kT on small Pad 1 using their 35T trucks (and all other equip for small production moved from nearby AAS Fortuna prop in storage there). Continue with next 20kT on pad 2, rotate 3 pads, prove recovery with fine tuning and get cash flow. Seems they don't have to pay off equip for the pilot prod and will be attacking the best ore, mentioned similar to a 25k-35k oz yr rate (calc it yourself, don't want to make up a $ value) not small cash flow, then raise cash to ramp up (but I would expect buyout then, just MHO). BML: Good for you reading the 110pp Prospectus, one advantage of an IPO like this, but few people ever do. You may not have noticed that Barker combined 3 co's for the IPO (Had more than the exemption # of investors and formed more co's) prev raising $1,850,000 from 93 BC investors. Were required to offer to refund purchase price to 93 investors who pd up to 1.00 (avg was more than the IPO 40 price). Only 3 investors wanted tot of $40,000 back, though pd more for the stock. Loyalty! Could have been the end, as cash was already spent on exp. <BC opening up> BML has been adding acreage all along and benefited from the prev admin attitude on mining being able to accumulate from discouraged holders on the cheap, has 253,000 acres 100%. Have no idea if they will ever prove up anything economic, you know better than I the odds against this, but the majors have been visiting and watching. Not investment advice and I am long NGT, AAS, BML.