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

To: J.E.Currie who wrote (4778)	1/20/1998 10:03:00 PM
From: stanley new	Read Replies (1) \| Respond to of 14226

Thanks Jim---Any idea how good this news is? Will be interesting to hear from those who can interpret the $$'s and tons into meaningful terms. Appreciate your sharing this and please pass on thanks to Mr. Jensen. Proud to be long! sn

To: J.E.Currie who wrote (4778)	1/21/1998 1:43:00 AM
From: Larry Brubaker	Read Replies (2) \| Respond to of 14226

Questions to All Regarding Auric Letter: <<We have recently completed the processing and refining of a 9,813 gram batch of your "anode mud" product through our organic solvent extraction (SX) circuitry>> What the heck is an organic solvent extraction circuitry? <<and started making payments on the recovered gold, platinum,palladium, and rhodium metals.>> How much were these payments? <<we have just completed the construction of a new copper refining circuit with 3,000 DCA capacity,>> What is a "DCA?" <<As surprising as it seems to appear, we feel, it is our duty to report to you that the recovery results from the first batch of your anode mud processing correlates back to your enhanced head ore, yielding a value between US$1,500 to US$2,000 per ton in gold, platinum, palladium, and rhodium (US$1,800 per ton in the batch we observed and refined).>> Why is this surprising? Why does AuRIC feel a duty to report on estimated head ore values based on a sample of about 20 pounds?

To: J.E.Currie who wrote (4778)	1/21/1998 8:16:00 AM
From: go4it	Respond to of 14226

Jim, Thanks for sharing the letter with the thread. I find it confusing however, why GPGI seems to be following in the footsteps of IPM. First it was Friendship metals and now AuRic labs. Do you know if GPGI intends to start bringing in outside consultants such as Bateman or will they continue to try to resolve the chemistry with the resources they currently have ? I'm confused in the knowledge that both these paths were non-productive for IPM and why GPGI would consider them good choices. Is that due to the higher ore grade? regards, Chuck

To: J.E.Currie who wrote (4778)	1/21/1998 1:00:00 PM
From: Mark Donahue	Read Replies (2) \| Respond to of 14226

To All: Long time lurker... up periscope... open napkin... From previous GPGI releases 5 tons of enhanced ore, milled and leached yields 1000 lbs. of primary concentrate ( this is the stuff that needs to dry ) further yields 800 lbs. of dore metal. "Assume" GPGI's enhanced ore has 7 oz. of good stuff per ton. Further assuming that GPGI's leaching process recovers 100% of the precious metals in the enhanced ore then 800 lbs. of dore metal will contain 35 oz. of precious metals. If AuRIC can process 3000 to 4000 lbs of dore metal a month, best case this would yield: 4000 lbs dore metal / 800 lbs. * 35 oz. = 175 oz. of good stuff. and 175 oz * $300/oz = $52,500 / month. There are lots of very optimistic assumptions here which offend my engineering sensibilities so.. I'm going to assume GPGI's leach to dore metal process only recovers 50% of the precious metals content of the enhanced head ore. Also assume that AuRIC can process only 3000 lbs. of dore metal per month so... 3000 lbs dore metal / 800 lbs * (35 oz * .5 ) = 65.625 oz of goodies and * $300/oz yields $19,687.5 per month. All in all still very good news. Especially if the process yields itself to easy ramping. I note that a past post or news release indicated that GPGI was installing two more furnaces. So I would expect the bottleneck will still be at AuRIC. Regards, Mark Donahue ... down periscope ...

To: J.E.Currie who wrote (4778)	1/25/1998 12:03:00 PM
From: Matt C. Austin	Read Replies (3) \| Respond to of 14226

The following note is from C L: ----------------------------------------------- Mr Currie, When the book is written about the new developments and the science of the desert dirt companies - GPGI will certainly have a chapter denoting that they were the first to achieve production. However, watching the stock price movement since that announcement, it should now be apparent that the market is not interested in that. Since the hoaxes pulled by Bre-x, Cartaway and others, the market wants outside, third party verification of extraction methods and resource calculation. This sweet, syrupy letter from Ahmet will prove of little use to Global. He is a metallurgist and not qualified to define a resource definition. For that; you need a qualified mining engineer and if you want the market to believe it, it will have to be from an independent third party. There are many good ones around - BD, Bateman, Fluor etc. Global should hire an engineering consulting firm to do third party, sacred dirt testing of your extraction method to ascertain whether the process is financially feasible. If they determine it is, then you would go to the next step with them -- drilling and ananlysis of the dirt. Then they use that data to provide Global with a resource definition. There just isn't any way around the above procedure, if you want the market place to fully value the stock. On re-reading Ahmet's letter, what stands out to me is that he now has a large stock position and he would like to see that value enhanced. He is not an outside, dis-interested party to the proceedings. Global's stock has always been stuck in a rut. Pool hustlers, tennis players and metallurgists are not enough to get the stock properly valued -- Global needs to hire some professional mining people and then follow their advice. Anyone with doubts about this advice -- print this post out along with Ahmet's comments and have a mining engineer give you an opinion. C L