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Gold/Mining/Energy : JAB International (JABI) -- Ignore unavailable to you. Want to Upgrade?

To: Martin Wormser who wrote (1790)	12/1/1997 6:17:00 PM
From: Roebear	Read Replies (2) \| Respond to of 4571

Martin, I just got off the phone with Lionel a minute before I read your post. Guess next time. I have a few questions/statements for you as a long time stock holder, and a little news for this news starved thread.<G> First, Lionel says there is 500,000 to 700,000 oz. of gold reserves at BCMD, this is the first I heard of any specific figures for proven reserves. I asked twice as I was surprised. I got the impression that more reserves are expected. Two, the shaker tables (as Charger said) are warped and not broken, the mill is in production. The effect of the warped tables is that they cannot retrieve the finest or "dust" gold. It is not wasted however, it is put in barrels and sent elsewhere for the gold to be separated out. Each barrel contains 8-12 oz of gold. The larger than dust gold is being retrieved from the mill operation, which is active.They have two "new"used shaker tables coming at a cost of 11k total, new ones would have been 15k each. Three, Pillar 4 is being mined this week but Lionel did not know how long it would be till it was finished (they also are doing an ore chute and man chute for it) and would not comment on production from it saying that those figures will come out in the quarterly report. Four, Some have commented here about the 300 oz. of gold from Pillar one. I asked Lionel if that was all they got out of #1 and he said that is what they got out that week, that was not all they got out. As for how much more, Lionels only comment was it will be in the report(I think quarterly). Five, I asked when we will get another news report and Lionel said that they will NOT make forward looking reports but will only have news releases for (I forget the exact wording) significant events. Such as the hanging wall report with the .7oz gold assay. And they will only release news when they have the figures to back them up. Six, Lionel was very upbeat about the JV deal, expressed surprise at the market reaction of the stock to that news. After all he said BCMD cost of production is virutally nothing until the JV is done paying, BCMD gets to keep the dollars from gold production till then. Seven, The Diamond JV is still in the works, the feeling there is that the JV for that one would be a "major". BTW,For those that are considering going to the annual meeting Lionel said they should fly into Sacremento rather than Reno as they might not make it through the pass from Reno in the winter. That is all I have, I wish I could clarify any questions but you have it all here, as I understood it. If anyone needs clarification I suggest you call Lionel. Best Regards Roebear