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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (6045)	3/23/2004 9:23:59 AM
From: TheSlowLane	Read Replies (2) \| Respond to of 313662

Claude, I posted this in The Woodshed, but maybe it is worth repeating here. I have been contemplating my holdings in light of the crack up boom starting to impact this sector and here are some thoughts on a few of them, by way of example... Great Basin has very low construction costs. $22MM to build a decline at the Hollister property in Nevada. Hecla is doing the work, so I asked how that works. Basically, increased costs will push the payback period from 5 1/2 - 6 months up to about 10 months. Since there are plenty of smelters in the area, no construction costs there. Candente - I spoke with them today and they never plan on building a mine so it's not an issue. They intend to stay focused on their core competency, exploring, and leave the mine-building to whoever they can vend their properties to. So, crack-up boom has little direct impact on them. Alamos Gold told me that their costs are looking to come in lower than they had anticipated. This may be because of better recovery than they had forecast earlier, not sure, that's a guess. Feasibility study in 2-4 weeks should tell us more. RBC put out a new report that is on the web site but I have not gone through it yet. Kirkland Lake - I did not speak with them, but this may be the type of play that is now worth closer attention. They have an operating mine and potentially very good exploration upside. The high-grade narrow veins that they seem to be hitting with regularity can be brought into production very, very quickly since all infrastructure is in place and in production.

To: Claude Cormier who wrote (6045)	3/24/2004 12:58:58 PM
From: bmccra	Read Replies (1) \| Respond to of 313662

Claude, do you happen to know where Chesapeake's royalty ground begins surrounding Marlin? I'm just wondering if this news from Glamis today regarding a discovery would potentially benefit CKG, or whether it is within Glamis' royalty-free Marlin area. Glamis Gold Discovers High Grade Gold and Silver Mineralization at La Hamaca Wednesday March 24, 8:30 am ET RENO, Nev.--(BUSINESS WIRE)--March 24, 2004--Glamis Gold Ltd. (NYSE:GLG - News; TSX:GLG - News) today reported initial drilling results at the La Hamaca prospect, located approximately three kilometers north of its Marlin project in Guatemala. La Hamaca is the northern-most of five targets within a six kilometer radius of Marlin. Reverse circulation drilling has identified high grade gold and silver mineralization similar in grade and character to the veins at Marlin. The first phase, 10-hole program has identified gold mineralization within an East-West trending high-angle vein, hosted within altered andesite. The quartz-calcite vein has been traced by drilling and surface outcrop sampling along a strike length of 280 meters within a gold-in-soil anomaly of 800 meters in length. Additional untested structures containing gold and silver mineralization have been identified by surface sampling within a 200 meter distance to the south. Significant drilling results are as follows: True Hole Interval Width Gold Silver Au Equiv Number (m) (m) (g/t) (g/t) (g/t) ------ ------------- ----- ---- ------ -------- LH04-01 141.0 - 150.0 5.2 23.3 735 34.6 LH04-02 178.5 - 180.0 0.9 8.0 213 11.3 LH04-04 130.5 - 135.0 2.6 31.3 1,240 50.4 LH04-09 99.0 - 103.5 3.2 13.8 373 19.5 To view a map of the priority targets, drill hole locations, a long section of the drilling results, and the entire drill-hole assay database, click on the "What's New" section on the Glamis website at www.glamis.com. The long section indicates four of the completed holes have intercepted the La Hamaca vein and the vein is open to the east, west and to depth. Another seven holes have been added to the first phase program and will be drilled to test the vein in these directions. The remainder of the program will be completed with core drilling. The potential of the parallel structures to the south will also be tested. Initial metallurgical testing indicates that the La Hamaca mineralization is similar to the Marlin ores and amenable to conventional processing technology. Further test work is planned. One of the Company's prime objectives is to look beyond the initial Marlin discovery and attempt to develop the area into a new gold producing district. Once the phase one drilling program is completed, Glamis expects to analyze and comment further on any potential impacts to the Marlin project development plans. Exploration activities on the other targets near Marlin will proceed throughout 2004. These targets appear similar to La Hamaca in terms of geology, alteration and gold-in-soil geochemical signatures. Other Exploration Elsewhere in Guatemala, regional work is underway on several targets. Glamis expects to drill test at least two of the regional targets (within 30 kilometers of Marlin) in 2004... b