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

To: Gary S who wrote (4720)	1/10/1998 5:37:00 PM
From: Lee Bush	Read Replies (1) \| Respond to of 14226

Gary and all: These Engelhard shipments I believe to be refined anode sludge. This is the snail process. It cannot easily be upscaled to increased amounts of refined sludge. I thing that the main importance of these shipments is just to demonstrate that the company is capable of producing metals from this ore that can be marketed, not to achieve any real economic returns. The flow of dore' from the improved concentration technique through the other two refiners is where our eyes should be focused. Whether those refiners can keep up with GPGI dore' shipments and expand their scale of operation is the real question mark; this is the bottleneck in the system. I think we may hear meaningful information through the next few months from Mike Wendell on his thread. Not that he will be able to post confidential info, but I believe he will let us know if and when we have a viable production stream with the kinks and glitches removed. This is not going to happen overnight. I don't know what more the CEO can tell us. He doesn't have the answers. Most of the answers lie with the refiners at this stage, it seems to me. Lee