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

To: Ryan Weisman who wrote (1988)	12/4/1997 7:47:00 PM
From: Roebear	Read Replies (2) \| Respond to of 4571

Ryan, I was able to link up, unfortunately I did not save it and it is no longer available. Things that were notable in my memory, 1 (I'm serious this was said) the miners were young [I will presume that it is more likely, but no guarantee, that they have teeth] 2 They were driving around all day and still were on BCMD property, BCMD property seemed huge. 3 The group went in mine on rail 4 they could see quartz, the famous warped (no big deal) shaker tables, mill. 5 they said they heard that they might buy another mill. 6 "Dummies" on SI couldn't figure this was a good JV deal. 7 Statements saying they were in production, last sentence was a question if in production from pillar 4 or not? But I thought someone had said earlier looked like a weeks worth of work on pillar 4 yet Now I am afraid I did a speed read this while I was busy doing a few other things, failed to save it and so I may have these few points messed up also. Plus it is multiple conversations going on so it is a bit confusing. Hopefully this will jog someone elses memory until charger brings us up to date so you won't have to stay in suspense all that time! My apoologies to charger and all if I messed this up. Roebear

To: Ryan Weisman who wrote (1988)	12/4/1997 8:38:00 PM
From: Dundee Maples	Respond to of 4571

I have some of it but I don't know how to post it to you. Reading it is better than a summary, because can see the intensity of the questioning.

To: Ryan Weisman who wrote (1988)	12/4/1997 11:49:00 PM
From: DDS-OMS	Read Replies (4) \| Respond to of 4571

This is an edited version--nothing material has been left out, but repetitions are not repeated and the extraneous noise eliminated. <Darlene1> Merik...Charger says they are within 8-12 feet of what they think is a pocket <Darlene1> popg's friend was a geologist and according to Charger popg and her were very sharp with their questions. she really got into it and after about 1/2 hour or so she changed-- she too was very impressed with what she saw <Darlene1> and Charger said she started smiling and ooohhing and awwwing--remember this is third party too <Merik-> I see. And how long until they hit this possible pocket. <Darlene1> Merik they are blasting away at it as we speak <QZ> a pocket of what? something similar to Pillar1? <Darlene1> they can come out with this kind of news anytime <Darlene1> yes QZ <Darlene1> only there is indications it is bigger than pillar 1 <Merik-> I would keep that info here. Otherwise if it doesn't pan out Charger will be accused of hyping. <Darlene1> We not only have they product ie the mines...we have an honest hard working person at the helm -- that is a fantastic combination QZ> have they reached the footwall? <Darlene1> qz not from what I understand <Darlene1> right now they are concentrating on the pocket they think they have found <popg> no one understands the deal--the deal is a lot different than people think--they have not given the company away for 16 mil dollars like everbody thinks. I was the first investor to make it to pillar 4 popg> It was great--I crawled past the old win tunnel it was all there ...like they said I understand what they have been doing I wish I could explain it...give me a chance <popg> the big news is that when the 9 million is paid ...that only gives them 30% and thats it-- they only own 30% of the revenue of whatever mines are brought into production to that point <Nav> popg...Is it correct the Sterling doesn't get anything until the 9 million is paid in full or do they get revenues right away. <popg> not a cent <mamah> 30% of revenue or 30% of profit? <popg> after that Sterling can sit back and not do any more but only receive that 30%. As other work is done and more mines are brought on Sterling has to come up with more money not just the 9 mil as everbody thought. In otherwords this deal does not give the company away--it is a joint venture--not a spilt ownership of the company <mamah> 30% of revenue or 30% of profit? <Nav> revenue <popg> after that Sterling can sit back and not do any more but only receive that 30% <Nav> Sounds good...9 million will go along way...Sterling must of saw something at BCMD that they really like. <popg> as other work is done and more mines are brought on Sterling has to come up with more money not just the 9 mil as everbody thought in otherwords this deal does not give the company away--it is a joint venture not a spilt ownership of the company-- very different mamah> understand what you're saying popg, but in all jvs i've ever been involved with the costs come out before revenue distributed. <Expresss> JV gets 30% AFTER they pay 9 million.... and they only get what is brought into production up until that point... no more... correct? <mamah> i.e., 30% of "Net" revenue, not gross. But what you're saying is that jv partner here gets 30% of gross revenue? <popg> net <popg> but My main point here was to let you know that very few people understand this deal and when they find out it is so good we should see the stock trade higher popg> the deal it turns out is how much they can get going with the 9 mil. Sterling gets 30% of that then they have a right of first refusal. Sterling can sit back or they can proceed and will have to come up with 30% of the costs from then on, or they can get in deeper and go the full 49% for 16 mil but even at that point they then will almost spilt the devlopment costs in the other mines and work or they can get in deeper and go the full 49% for 16 mil but even at that point they then will almost spilt the devlopment costs in the other mines and work... <popg> Long talk on diamonds looks like very close to dimond jv-- might be big compamy <popg> Red the biggest news is the deal is a lot better than peop;e think <popg> way better <RedBaron> So what does the operation look like?...35 miners on the one Pillar 4? <RedBaron> Or people spread out all over the place <popg> no...two shifts <popg> yea...doing different things <RedBaron> I thought it was 3 shifts <RedBaron> they eliminate a shift? <popg> they are working on different vein structures <popg> yes at the moment..thats all they need--they are doing an incredible job RedBaron> Did you ask why they eliminated a shift?....what was the third shift for (orginally)? <popg> They just took those people and they are working in other spots-- they are working on another area popg> they are working on another tunnel taking out ore-- I took a small piece of rock from pillar 4 <RedBaron> So what did you see with your own eyes (vs what was being told to you)...did you see actual ore being taken from Pillar 4? <popg> I said we have made it--this is were they're at--I never understood how is looked-- but basicly they had to dig a new tunnel-- brand new to pillar 4--but..very smart-- they dug a small diamter tunnel and found pillar 4 and the old win tunnel then at that point the realized the maps were correct-- then and only then...and this is the reason its taking so long. They are finishing up the new tunnel by making it bigger and shoring it up with timber and putting in a slide for the ore to be dropped into a hopper car. this tunnel almost goes straight up <Seven7> so they were not convinced that the maps were correct before then popg? <popg> I had to climb 170 feet up to confirm it for you guys. After climbing up the ladder system, I reached a small new blasted out area...done last shift. really neat-- you can see the old win shaft --no bs--I had to be careful because the need to take out those old timbers--but anyway piller 4 boundary is that old win shaft but they are about ten feet or so from where they want to start boring in but they are at pillar4....stan says ore looks great-- I took a chunk I would say just a matter of time now, but they have done just a ton of work. <popg> I really could see what a hanging wall was and could see veins. <popg> I was at track level-- rode a train into mine-- went to the mill-- met Vern--who runs it--saw the warped table......what a joke <popg> just missed a pour but I just wanted to crawl around the mine and make sure this wasnt a bs thing-- far from it......you guys have yourself a mine. [THOUGHT I'D LEAVE A BIT AS IT WAS SO YOU CAN SEE WHY I EDITED AND WHY ALL THE -- BETWEEN popj's THOUGHTS] <popg> This company will be a world class mine [10:09] <fjbfl> for an extra buck :-) [10:09] Samatar02 * -- sells altn @ 7 7/8 short [10:09] <popg> the land holdings this company have is HUGE <actech1> for an extra buck-et [10:09] <hj1spacel> yes i know, this room bought and paid for all that land [10:09] <popg> we drove for miles and were still on the one mine site <actech1> any word on diamoniferous holdings or diamond JV? [10:10] eztrader * admires song's cracker jack rings [10:10] <popg> they have 9 bloody mines....it is f**ing huge [10:10] <lee_p> 1 1/32 x 1 1/16 [10:10] <popg> close actech [10:10] <popg> these people are top notch [10:11] <Merik-> 5090 [10:11] <xyzyx> popg excited. getting me excited too <RedBaron> pop, Im curious why you find that different than 30% ownership ...yes, Sterling doesn't own 30% of the company, or they would be handed over 30% of BCMD stock. However, Sterling does receive 30% of the gold- though what I didn't consider was that Sterling only gets 30% of the gold where they put their money at. So, if Sterling doesnt throw their money at Ruby Mine, and BCMD decides to mine at Ruby, Sterling gets none of the money found there (none of the gold that is) <RedBaron> Ok pop...back to the mining operations..Just so I have a handle on this...they are currently extracting ore from Pillar 4? or are they still tunneling in using this second tunnel? <popg> from what I can see almost done <RedBaron> done with......the tunnel? <popg> a little more timbering and some clearing of old win shaft...to make it safe--ten feet of tunnel widening--yes almost done Red <RedBaron> Ok we have the tunnel all shored up except the last 10 feet to Pillar 4, they intend to shore up the last 10 feet with new timber this week. they need to remove some old timbers from the old win tunnel--thats about it <RedBaron> And...Pop, you walked the remained 10 feet and grabbed a piece of Pillar 4, correct? <popg> crossed over the old tunnel that is caved in and touched pillar 4 but at that point pillar 4 is fully exposed becuse the old win tunnel is the boundary of pillar 4 <RedBaron> I see, the reason of this delay on Pillar 4 is because of the new tunnel they had to put in to reach it because the old tunnel caved in--correct? <popg> yes....would have taken thoundsands of dollars and days extra plus it reinforces the idea that they know what the hell there doing to be able to just start mining and end up right at pillar 4 right at the win tunnel <RedBaron> So, where the new tunnel ends (where you picked up a chunk of Pillar 4), that is the hanging wall right there? <popg> they are past the hanging wall but they are headed to were they think are some rich areas--saw where they took the .7 sample <RedBaron> They are past the hanging wall with the .7 oz/ton assayed but are ignoring it...correct? <popg> yes, although they want to work up the pillar...also up the old win tunnel and bore in from the side RedBaron> Hmm.. interesting that they ignore an area with .7oz gold/ton-- they must think there might be more elsewhere. <RedBaron> the MAIN new tunnel goes to Pillar 4? and then there are offshoots to different tunnels? <popg> yes This "conversation" lasted 2 hours and the total log is 26 pages if printed out. I have taken the license to edit repetious or non-pertinent msgs. Since several of SI and DTO people were able to get this, I think those that were first privy to it have already acted on it, so posting for those that couldn't access it is only fair.