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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ -- Ignore unavailable to you. Want to Upgrade?

To: Krikor who wrote (1014)	11/22/2002 5:12:53 PM
From: Warren	Read Replies (1) \| Respond to of 1285

Hello Krikor; It was three months to the day yesterday that Cadre submitted the application in VZ. Everyone is anxious for something to be done. All indications are that the permit is still moving slowly forward and that in due time it will be granted. I did some work on the financial figures in the press release. FYI the NPV figure assumes Gold at $300.00; a discount rate of 15%, and a tax rate of 40%. So if Cadre can maintain 50-60% interest this could be very profitable with only 10.5 million shares out.