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Gold/Mining/Energy : Stealth Mining Corp. [SAL:ASE] -- Ignore unavailable to you. Want to Upgrade?

To: Roman de Guzman who wrote (101)	10/24/1997 12:40:00 PM
From: Leigh McBain	Read Replies (1) \| Respond to of 130

Roman, I am quite well aware of the math involved, however they are not averaging an ounce per ton, they have hit some high grade returns and as indicated in the release still have further work to do to determine the extent of those particular zones. The comment I made with regards to the economics of the mine comes from the release itself, where the company states that the new results "enhances the economic potential of the deposit" this property is not yet guaranteed of being an economically feasible project, to bring to production. This same view was also included in a recent mailing put out by the C.I.A. Keep in mind that the 1.5M oz. is the estimate for the "overall geological resource" NOT the proven mineable reserve. One other note, even if I average 1 oz. per ton and someone else averages .2 oz. per ton my "gross" return may be 5 times as high but, their "net" return may still be higher based on cost of production. In Nevada there are economic deposits at .02 oz./ton, however that will not be the case with this property. Please don't get me wrong, this release was good news, it simply wasn't the release to put SAL over the top. Like all the rest of you I like what I have been seeing, I am just trying to stay objective. Salut, Leigh McBain