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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: mark silvers who wrote (14219)	7/13/1998 8:59:00 PM
From: Richard Mazzarella	Read Replies (3) \| Respond to of 20681

Mark, <<a synopsis>> After 20 years of effort, GPGI may have finally cracked the desert dirt nut in economic precious metal recovery. They have a 0.5MM ton ore pile that is the byproduct left from gravel removed for highway use. That dirt pile shows 3 OPT gold equivalent in precious metals extracted (~1000/ton). The interesting thing is the complexity of the process. They leach the ore, then smelt the precipitate (alloy the Au, PGMs) in copper. The copper is then dissolved for continued wet chemistry process with a final absorption of precious metals in ion exchange resin. Costs are low for the 3 OPT ore and are spelled out on a previous GPGI press release. The Maxam process is similar with the exception of the smelting step, Maxam stays with wet chemistry all the way. GPGI will begin producing 15 tons of ore per day to generate cash flow ($15,000 gross profit/day). That cash flow will fund building a larger mine. People misunderstand the potential for GPGI, thinking that all they have is that ore pile, but they have thousands of acres of the dirt that the pile originally came. My speculation is that a simple screening of the undisturbed dirt 4/1 gives them the same 3 OPT. It looks like GPGI will finally validate desert dirt's. That should help interest in all of them IMO.