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Gold/Mining/Energy : Golden Hemlock(GHE) -- Ignore unavailable to you. Want to Upgrade?

To: Steve Johnston who wrote (535)	11/8/1997 2:17:00 AM
From: CJG	Read Replies (1) \| Respond to of 909

My estimate is $150 per oz. cost giving away the other minerals. The closest big refiner that I know of is in Texas which is not so far if you concentrate on site.

To: Steve Johnston who wrote (535)	11/8/1997 5:34:00 PM
From: Robert Dydo	Read Replies (2) \| Respond to of 909

I do agree with you that financial support is needed and as I have said myself before major co. would not only provide the money but experience and equipment to the project which would speed up the proccess. I do disagree with you Steve on your perception of lack of money in possesion of major cos. Most companies have sold their gold for better prices than current one and they have money for exploration operations, what they don't want to do is to lose their edge with expensive mines which tarnish the established profit balance (as you mentioned). GHE is a project of the future and as long as the potential is for multi-mln resource major company will not pass it on because of the reason that gold is cheap right now. GHE has a mill on the site and I would imagine that cost of processing an oxide ore which Purisima is could be low but we can't really talk about major production with infrastructure of this size. It is going to be a long time for any attempts to produce figures for production and what is important right now for Hemlock is to generate enough money to realize the property's full potential either by PP or an option. I would like to see major paying for it, but money would count here not who is paying in my opinion. The price is very low and does not take 0.6 mln estimate too seriously in calculation therefore I would say that offseting the profits sale would not affect GHE much since I believe it already happened. I have watched holdings by different houses for last few months and for example First Marathon was selling GHE regardless of the bid for at least last three of them. Canacoord sold tones of shares but it was very silent in last month as brokerages like Gundy, Nesbitt, and Haywood were picking them up. Anyone who is interested please take a look at those charts. telusplanet.net telusplanet.net telusplanet.net The first period is the base for calculation of the position where the balance of sold and bought shares represent the either negative or positve position. Canaccord leads the pack as they sold over 0.9 mln of shares on balance(bought-sold)in first period 4/25-9/19. My opinion is that actually there is going to be a demand for GHE shares in December and if we see positive releases this will increase the price. On this belief I also think that there is no much expensive shares left and if they are being kept they were averaged recently, to levels of 0.60-0.80. Last year GHE had a pattern of increase which was toped with new year and Feb/Mar period. From there is rather selling activity which I would characterize as consistent without symphtoms of the sell off. This can be attributed to two factors Bre-x and lengthy drilling program, where speculation was replaced with frustration and disbelief other than solid signals of the failure(Price of the gold is neutral here since GHE is not into the production and if someone is viewing GHE that way, check the Friday's London trading $308 per ounce in comparison to $0.18 increase. The company is drilling, the results slowly but in acceptable pace are coming in. Calculation of the potential for Tres has been initiated. R.T argues that Tres can have open potential for 4mln? There is more positive elements here than ever before and they will be reflected. Regards Robert