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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: Char who wrote (196)	1/21/1998 9:17:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 708

If they want to "prove" reserves, they will need to go through the rigors of COC and statistical sampling, an expensive proposition, furthermore, they will need third party independent assayer, and we will end up again with questions of "fire assayable" ores. I think that they should first generate a stream of cash and then do internal evaluation for planning purposes. Only if they plan to go to the public for major new financing they should go the valuation route (and hopefully get such financing at much higher prices). Zeev