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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ -- Ignore unavailable to you. Want to Upgrade?

To: Francis R. Biscan Jr. who wrote (476)	3/22/1998 11:47:00 AM
From: joseph schevenels	Read Replies (1) \| Respond to of 1285

These guys sound VERY optimistic ... "Cadre plans to develop up to a seven to eight million ton per year operation starting with Rosita 1, then expanding to other sectors of the river. Gold, diamonds, titanium and other material will be harvested for an expected net cash flow of $25 per ton. " That would be a really HUGE operation ,and would require an enormous amount of set up capital,let us be a bit less optimistic...and take 1 million ton a year,at a net cash flow of $10 per ton,and let's suppose that a major would own 50% of the operation,this would give the co a net cash flow of 5 million, not bad for a junior with less than 10 million shares outstanding... One does not see often a junior exploration co move on to the produc- tion stage,it really is the exception to the rule,i remain sceptical. Joe