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

To: Lee Bush who wrote (4835)	1/23/1998 1:05:00 PM
From: SnakeInATuxedo	Respond to of 14226

With all due respect to Mr. Smith's mathematical abilities, and I do respect both him and them, I think it's time for the esteemed Back-of-the-Napkin-meister himself.... [psssst! Zeev... this is your cue] .... to put his pencil, oops I mean his Cray supercomputer to work on Ed's numbers.

To: Lee Bush who wrote (4835)	1/23/1998 8:38:00 PM
From: JACK R. SMITH JR.	Read Replies (1) \| Respond to of 14226

Lee, What Ed is alluding to is that Twiford has achieved and aparently told Ed that much higher values have been achieved in the lab. I have no concrete information on this. I wish not to be misleading to anyone and will only say that there is a certain possibility that the 1500 to 2500 dollar figure for dollars per ton of head ore might be improved with future improvements. The point that I must constantly point to is "presently achievable extraction". My gosh, I am so happy with 1500 dollars per ton that I am extatic. Let them take the 1500 per ton and pile the tailings somewhere and reprocess them later as technical improvements are made. I have communication from Ed which indicates that it takes one ton of enhanced ore to produce 170lbs of primary concentrate which reduces to 120 lb of dore. Ed says the rest of the figures are good. What I do not know is the value of the slime, sludge, mud. I mean by that what can be presently extracted and sold. In view of that, I have to go back to the statement by Auric which indicates at least one batch correlating to a head ore value of 1800 dollars per ton of head ore. With that value or even half that, the company can be more than profitable. Figures can be confusing, checks in the bank and balance statements are the figures I like to look at when they are pleasing reports. Always, always, with a startup company such as this we must look at what can be presently achieved. Keep the potential certainly in mind, but look at what can be presently achieved. I am most pleased with the progress of the company, but try to avoid becoming wildly optomistic about the reality of production. Small steps by a company with great potential and proprties become larger steps and then larger. We are watching the first few small steps. If they can achieve a cash flow above operating costs, I will be very happy. Let us wait and watch for that. Frankly, I think this stock is a screaming bargain at present prices and wish I had more loose sheckles to throw at it. P.S.--Chucka, yes, I agree that Weaver Creek reserves are underestiamted at 100 mil tons. I do not think that it is as rich as the H. Project, but it certainly represents a great potential. You ar e quite correct in some of your statements. Clearly, you have done some homework. The depth of some of these deposits is rather great in certain portions. I suspect that the H. Project deposits are quite deep, also. Best reguards to all!! Jack