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Gold/Mining/Energy : EET Etruscan Enterprises T -- Ignore unavailable to you. Want to Upgrade?

To: Salt'n'Peppa who wrote (227)	11/10/2004 9:45:55 AM
From: Cal Gary	Read Replies (1) \| Respond to of 281

Wishful thinking. Breaking 2.10 will signal confidence that the March to July resistance level has been penetrated. Fresh air ahead. I'm sure you know, Gold spiked to $437 over night trading. Publishing a bankable feasibility study now for Youga would be great news and great timing. Especially with a small hedge in the $430 range to support a portion of mine financing. News like this may turn many eyes this way. I really like EET's stategy, use cashflow from Samira Hills to support future mines where they have significant ownership. ie Depending on the banker and terms, $2mm usd can service $40mm at 5%, $20mm at 10%, .... Bring it on. Opening bid is 2.12

To: Salt'n'Peppa who wrote (227)	11/16/2004 7:29:44 PM
From: Cal Gary	Respond to of 281

OT Check out LRR

To: Salt'n'Peppa who wrote (227)	11/18/2004 2:21:13 AM
From: Cal Gary	Read Replies (1) \| Respond to of 281

HI S&P spot Gold @ $446 I am curious what prompted you to write? It is too early for the Youga report. From earlier NR like the April RMB debt financing arrangement, This program is being carried out under the guidance of RSG Global of Perth, Australia. Updated resource and reserve estimates from RSG are anticipated by July, 2004. Metallurgical Design Management of Randburg, South Africa, has been engaged as the lead consultant to deliver a bankable feasibility study. The bankable feasibility study will incorporate the RSG results together with updated metallurgical studies, detailed plant engineering and infrastructure studies, and updated capital and operating cost estimates. Subject to project financing Etruscan is working toward the construction startup before the end of this year with gold production in early 2006. Part of the delay may be tying up more land in Burkina Faso, announced Oct 28.From that NR: The Youga greenstone belt holdings Etruscan's initial focus in Burkina Faso has been to bring the Youga gold deposits into commercial production. As previously announced, the company has engaged Metallurgical Design Management Pty. Ltd. to complete a feasibility study for the project, which is scheduled to be completed later this year. From Q3 report ended Aug 31: Work continued toward completing the feasibility study on the 90-per-cent-owned Youga gold deposit located in Burkina Faso. Construction of the gold recovery facility is targeted to commence in first quarter of 2005 Construction startup now Q1 2005. So BFS scheduled to be completed later this year. Year end is a few days away, Nov 30. Or does this mean calendar year end?