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

To: Randall E. Brubaker who wrote (7260)	9/8/1998 11:38:00 PM
From: Richard Mazzarella	Respond to of 14226

Randall, my take on the announcement not reporting income is that the refining costs for the early deliveries is much higher than what will eventually be the case. I remember an earlier GPGI press release when there was more smoke than substance about their first payment from a refiner. The market would have laughed GPGI off the face of the earth if they reported the number, something around the price of a pack of cigarettes I was told. I agree that GPGI is making a mistake not reporting the money received, even if initially small and requiring explanation. Unfortunately the market remembers the earlier incident all too well. Nondisclosure just draws attention to that earlier time, too bad.

To: Randall E. Brubaker who wrote (7260)	9/8/1998 11:40:00 PM
From: Ed Fishbaine	Read Replies (1) \| Respond to of 14226

Randall In a word, if the initial results were high and then the second results were lower the company would be attacked. If the inital results were low the company would be attacked. IMO we have waited so long for results, we can wait a bit longer till we get either an average of returns if they are variable or if the returns are or become consistent a report to this effect. To me the essence of DeNoble's message is that Sabin can get metal for us. This is the miracle. Also that we are apparently in the early stages of developing a process of extraction which is improving. Regards, Ed