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

To: J.E.Currie who wrote (4456)	12/13/1997 9:31:00 PM
From: JACK R. SMITH JR.	Respond to of 14226

Jim, GPGI is no threat to any producer in the U.S, Save Stillwell. Though they have significant gold values on the Oro Grande, the amounts are not significant in relation to the total gold production in the U.S. They might be, and the U.S. DD's might and maybe will be a significant threat to the South African and Russian PGM producers. The issue of refiners is critical to GPGI, as they do not have the capacity to produce their own metal. They have said that they were developing it, but clearly, they have not. They must find a refiner with the capacity and capability to produce the metals from their concentrates. We thought that the refiner in Nevada was going to do it, and that has not worked to date. Clearly, the presentation in Nevada and the perception of what would be presented was dissapointing. I would not yet count that refiner out if M. Wendell is involved. It may be that many factors inhibit his participation, and I know not what those are. Capacity is clearly an issue for them as they are not a current refiner. I just spoke with Dick Jensen. He bit my ear off for calling so late. I had sent him a fax asking him to put out something to the stockholders about the current situation. You can trust me that I will not call him late again. I understand that he is almost always available to us stockholders, and probably many have been calling. It is highly unusual to have a CEO who will personally answer the phone. Personally, I think he tries to do too much personally and is too available to us. With that said, I personally think that he has been silent too long, and at the wrong times. He has his opinions, and I have mine. I try to tell him what to do and he tells me to go to Hell!! He is probably about my age. He an old football player, me an old blacksmith. Maybe we could do a one-on-one. He can try to run over me and maybe I will hit him with my hammer? Just kidding!! P.S.--Rest assured, I will use a very small ballpein!! Ballpein Jack