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

To: SnakeInATuxedo who wrote (4348)	12/2/1997 1:45:00 PM
From: Jeff Williams	Read Replies (4) \| Respond to of 14226

I think all GPGI investors will be interested in a couple of conver- sations I had this morning. First I got a call from a NY personage (who reputes himself to be a shareholder) who told me GPGI would not be getting a check from the "new, un-named" refiner anytime soon. In fact he suggested it would be several more months. He said he would be selling his position soon of 8,000 shares. I do not completely trust this person and I feel he may have a hidden agenda. Next I spoke with Ed Fishbaine who told me that there would be a delay in GPGI receiving a check, because of what has been described on this thread earlier as a "bottleneck" at the refiner. He said the delay would be a few months. To put this in perspective, he told me that a new refining expert, a Mr. Waddell, is entering into a partnership with the exisiting refinery owner, and that they were looking to build or buy a new refinery and this would account for the delay. Reportedly, there will be a meeting this Saturday at the new refiner with Barry Downs, and 50 or so investment people as well as Mr. Waddell and the owner. They will give a report on the progress of refining GPGI's product. It was also mentioned they are looking for financing in the $5 million area to facillitate their being able to obtain a new facility. In light of these reports, a substantial delay could be expected if they were true. I then called Russell Twiford. He categorically denied there would be any substantial delay and asked me to relay this to all the readers of this thread. He said they are "ramping up" the exisiting facility and, "a check was expected any day." He said they may want to obtain a larger facility in the future, but for the moment they are expected to process GPGI's product using the present refinery. He felt they were making good progress and had gone so far as to have refined metal in solution (which, if I understand it, means they were very near the end of the initial process). I have not attempted to call Dick Jensen, as I understand he is not back in SLC yet, but I will do so tommorrow and report to readers of SI what he tells me to clarify the above issues. Clearly, they can't all be right. This muddled confusion may be part of an effort to get exisiting shareholder's to sell on the cheap, in my humble, non- professional opinion. More tommorrow hopefully, if I can get Dick Jensen's clarification. Regards, Jeff Williams