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

To: Chuck Bleakney who wrote (4821)	1/22/1998 8:54:00 PM
From: JACK R. SMITH JR.	Respond to of 14226

Chuck, Yes, all the terms are confusing. I will attempt to confuse no further. Forget primary concentrate and dore. Forget sludge, slime and mud. Here are the basics. The value of the mine is based on the value of the ore and what can be extracted from that ore. Here is the ore on the Hussayampa. Half a million tons of screened ore (enhanced, beneficated, or whatever). That means as Bob Walsh correctly said (and I appreciate his sage comments), that the rocks have been removed by a gravel operation. This is the ore that GPGI refers to. That has a value according to preliminary tests by Auric of somewhere between 1500 and 2500 dollars per ton. I do not believe that these values approximate the companies lab results, but they are a starting point. I like a figure in between, let me pick 1800 dollars per ton of screened ore. That gives the screened pile a value of 900 million dollars. Some spots in the pile will be poorer and some richer, but considering that a hard rock mine would dancing with glee at a value of 300 dollars per ton, I consider it very good. Now, let us look at the rest of the Hussayampa pile. It has been approximated at 15 million tons. Assume a 1:4 ratio between unenhanced and enhanced (simply screen the ore and remove the rocks and possibly sell the gravel--not high tech) you get 3.75 million more tons of "enhanced" ore. In the interest of reality and realizing where we are with the process and the recovery, I refuse to apply the 1800 dollar figure to that pile. The potential figures simply boggle the mind and I will wait for further production to prove the potential of the company. Quite frankly, I am feeling rather smug about my position in the company. Perhaps I will be able to afford a better wood stove. Perhaps a platinum one which will produce no polution. Take a heck of a fire to make platinum glow red. In closing, there is much to be learned about the value of the GPGI properties. The key is in the extraction of and sale of what is there. How can we help the company? I am happy that the company has grown to the point that it will have a full time employee in Mr. Dennis Denoble. I ask you all not to overwhelm him with your questions at first. Please let him settle in. Dick Jensen is certainly diverted from his important duties by constantly talking to stockholders. Let us elect a spokesman to make a few calls and announce the results to us. I would vote for (insert the name). Certainly no one has all the answers and some would call for themself anyway. All I want is timely and factual information. No one of those on this thread who post information regularly (Bob Walsh, J.E. Currie, and all the others who are duly dilligent, and forgive me for not naming you all) has mislead me. We all seek the same basic facts. I care not how I recieve them. We can help the company by telling them our questions in a manner which will not overwhelm the resources. These folks who have brought the company to the present date are truly pioneers. Their accomplishments will be widely know in the future, but not just yet. Perhaps I should be collecting signatures from Dick Jensen, Russell Twiford, Wayne Palmer, etc. (Wonder what a Chucka Marsh would be worth, or a J.E. Currie) and last, but not least, Sonny Lamont. I do not know how many shares Sonny holds, but suffice it to say thas I am certainly envious of his position and his foresight. If he is not the largest single stockholder in the company, I would be surprised. Two Wayne Palmes for 140 Chucka Marshes? Sorry, Chucka, Just kidding. Let us not forget the rest of the properties and the obvious possible technical advances in processing which may increase the potential of all. I wish to thank Mr. J.E. Currie for making the Oro Grande a property of GPGI, Mr. Lamont, Mr. Jensen, Mr. Twiford, Mr. Palmer, Mr. Fishbaine, Mr. Wardle, Mr. Altinay of Auric, and all of you who have contributed to my understanding. As we say in the south part of Louisiana, "Let the good times roll". Drink you some beer, eat you some crawfish, dance with a pretty person, and save your GPGI stock!!! Cajun Jack