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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Walsh who wrote (6914)	8/4/1998 9:40:00 PM
From: JACK R. SMITH JR.	Read Replies (1) \| Respond to of 14226

Bob, I will not hold you to any estimate, for that is my impression of what you have provided, just a best guess. If you are accurate, then by my estimate, the company is in much better shape than I had estimated. That would certainly cover operating costs and provide room for expansion. I expect no dividend here but prefer that profits be plowed back into production capacity. Let no person hold you in low esteem if you are wrong in your projections, as I was wrong (clearly) in my call for a rally in the market. Well, I did provide some forewarning of the situation, and that is to my credit, but I expect to be 99.5% accurate, and I am sad when I miss that mark! Thanks, Bob! Best to you, Old Soul!! Jack!

To: Bob Walsh who wrote (6914)	8/5/1998 10:52:00 AM
From: Ed Fishbaine	Read Replies (1) \| Respond to of 14226

Hi Bob, To predict that at the start of the pipeline that one week's shipment would be worth $75,000 is quite misleading IMO. I do not have any specific information, but neither is there a clear picture at the mill of what the returns will be. Despite the assay of $1,000 per pound the actual refined result will have to be discounted for the water in the shipment. There will, also have to be allowance for the likelihood that the material is not fully saturated with the resin and that there are losses of metal at the beginning. There are also other start-up complications about which you and I know nothing which will affect the processing of the material. To jump from the assay to the value of the shipment can only set up investors for a major disappointment. My bet is that the initial returns will be a fraction of what you have stated. There will be a gradual improvement in each shipment as they gain experience and eliminate the inevitable glitches. But it is a mistake at this point to offer numbers which cannot be documented. Wait till the numbers are in. Regards, Ed