Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Exall Resources/Glimmer Resources -- Ignore unavailable to you. Want to Upgrade?

To: James N. Wilson who wrote (526)	3/15/1998 2:26:00 PM
From: g.b.88	Read Replies (1) \| Respond to of 1319

Mayer & James As a shareholder in Exall for a few years now, I share your concerns. I recently attended the P.D.A.C.'s annual convention in Toronto, and I addressed these concerns to Michael P. Gross, VP of operations of Exall. This is a brief synopsis of our conversation.: * Court hearings may end within a month, but more likely will drag on for another two or three due to slow process * Exall is presently preparing an updated mineable reserve figure that will likely be an increase of approximately 100k ounces and will also include an updated resource figure * Production is proceeding smoothly and the higher cash operating cost per ounce reported towards the end of 1997 was an anomaly, and costs should return to budgeted estimates * Exall is not looking to make a splash on the market through hype, instead they are focused on developing a profitable mining company that will reward shareholders over time Conclusion: The company's honesty and straight forward demeanor is what I am looking for in a mining company, and their approach seems to be calculated and conservative. Therefore, I say the recent dip below $.35 is a bargain opportunity that shouldn't be passed over by patient, intelligent investors. Regards, GB

To: James N. Wilson who wrote (526)	3/16/1998 8:31:00 AM
From: Mayer Tchelebon	Read Replies (1) \| Respond to of 1319

Thanks for the clarification. If the court-appointed referee is only going to start work in April, then you have to assume a decision will come down in the Summer. Exall has already made it clear in a previous press release (Nov.27/97) that they will appeal a decision not in their favour. If that happens, add a few more months to a year. I hope for everyone's sake that the two companies are talking to each other about some creative solution, i.e. merger, settlement or a sale to a third company of the Glimmer mine. I wonder if this (or other idea) was floated around at the PDAC.