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Gold/Mining/Energy : JAB International (JABI) -- Ignore unavailable to you. Want to Upgrade?

To: Frank Brisebois who wrote (3789)	6/8/1998 3:07:00 PM
From: DDS-OMS	Read Replies (2) \| Respond to of 4571

Frank, A elephant, allright! This is ONE orebody covering 4400 acres that has been extensively drilled to map out exact extent of mineralization. EPA has been trying to find a solution to this since 1983, and has already spent millions on remediation efforts that haven't been too effective. Finally, some bright person decided that if the metals weren't there, there would be no pollution problem--so instead of treating the polluted ground water and reinjecting it into the ground--why not keep the water from getting polluted in the first place---remove the metals by mining. I don't think financing will be a problem. The recovery costs are estimated to be 2/3 of metal recovered, so with $1BB reserves, the net profit should be $350MM--or about $ 60 per share net earnings over whatever time it takes to mine it out. I think ICI just might give BCMD the "stick" with which to get after this elephant. Regards, Gary