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Gold/Mining/Energy : ECHARTERS -- Ignore unavailable to you. Want to Upgrade?

To: Tim Hall who wrote (2500)	4/1/1998 11:32:00 PM
From: Bill Jackson	Respond to of 3744

thall, That goes along with what I have surmised from my contacts with the OSC and others. I will see if I can find a written set of rules. the TSE and OSC are supposed to be getting a new set ready, after BRE-X covering this and other aspects of DD. Bill

To: Tim Hall who wrote (2500)	4/2/1998 7:42:00 PM
From: E. Charters	Read Replies (1) \| Respond to of 3744

Reserves in Canada are proven, probable, and indicated or sometimes called possible. They all can be used to make valuations at different numbers of profit cents on the dollar. Proven are worth 50 cents on the profit dollar that may be assumed. If there are substantial proven then probable are allowed to be included and are worth a bit less, perhaps 15 cents. Indicated are worth still less and only if there are substantial amounts of the previous two categories. These valuations are used to estimate the property's worth for purposes of sale or option by exchange rules. This is from an engineer whose reports are used as models for engineering reports by the VSE. The resource category is, I believe relatively new. It has to be estimated from geological information and sampling of different types. It can be inferred from data collected from adjacent deposits and even geochemical signatures, if there is a history to the data's reliability. EC<:-}