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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (4281)	11/21/1997 12:19:00 PM
From: Lee Bush	Read Replies (1) \| Respond to of 14226

Zeev and all: Rest assured that news will be coming next week as I am taking a bit of a turkey vacation and will not be lurking/posting. Usually, this is a very good indicator that something will happen with GPGI. I hope that it fulfills the dreams I am reading about. gg Lee

To: Zeev Hed who wrote (4281)	11/23/1997 12:53:00 AM
From: GlobalMarine	Read Replies (1) \| Respond to of 14226

Zeev: I'd like to ask you about GPGI, as it's about the only DD I haven't diversified into. You were on mark when you questioned the economics of IPM's recovery process -you even provided your own back-of-the-napkin cost calculations. I know you prefer GPGI because the grades seem to be in the multi-ounce range, making economic recovery possible even with a costly recovery process. However, I understand that: 1) The multi-ounce/ton screened stockpile of some 500,000 tones at Hassayampa is just that, screened. What happens when all that concentrated ore is gone? 2) The ore at Weaver Creek and Oro Grande is in the ground, not screened, and the grades seem to be far more modest. Won't GPGI get into trouble here on recovery economics? Finally, if memory serves, you were rather bearish on Maxam Gold's recovery process in that you thought the ion exchange part of the recovery process may be uneconomic. Could you please comment on the economics of the company's recovery process for its Peoria 7 mine? The company has targeted April, 1998 for mine startup. Thanks, Zeev. Rand