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Gold/Mining/Energy : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: kingfisher who wrote (1261)	5/31/1998 10:07:00 PM
From: Greg W. Taylor	Read Replies (1) \| Respond to of 2346

For what it's worth. Of course, you guys are both right. We have not drilled enough to come up with an acceptable level of certainty in association with an acceptable resource number, let alone a reserve. And that is putting aside any issues concerning metallurgy and other cost or recovery issues. Even so, a 200 million ounce resource -- putting aside that the SEC doesn't like that word, even though the industry broadly uses it -- by year's end would be a nearly impossibly aggressive projection. Nice. But nearly impossible, especially at drilling rates of 20-30 meters a day, plus down-time, mobe and demobe, analysis timing etc. etc. And to say that we know what we have there -- no matter what we truly believe -- would be irresponsible. At the same time, Dick's calculation was not completely off the top of his head either. It was a measured estimate based on drill assay results, a view of the structures and experience. Neither more nor less. I hope this helps. Greg