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Gold/Mining/Energy : Altair Nanotechnologies -- Ignore unavailable to you. Want to Upgrade?

To: Kailash who wrote (498)	9/23/1998 9:37:00 AM
From: John S. Baker	Read Replies (1) \| Respond to of 603

they'd better get going quickly, before they run out of money. Aren't they left with just four million after buying back the convertible? Heck, they're at least testing now, but what's it going to cost them to start production? If memory serves, the company has never planned to fund the commercial development of the Camden property. Rather they anticipated completing the feasibility studies and then partnering with a major mining company to do the actual commercial extraction (using the jig, of course). Even so, burn rate is of concern. JSb.

To: Kailash who wrote (498)	9/23/1998 10:04:00 AM
From: Rajiv	Read Replies (1) \| Respond to of 603

I believe that the arrangement is routine in the mining industry. The clauses of the lease and an appropriate mining license should allow Altair to "exploit" the property. I am not very familiar with the legal aspects. The terms of the lease include - The $5.00 U.S. per acre annual lease payment increases to $10.00 per acre in year three, and to $25.00 per acre in year six. The lease payments are credited towards the 5% production royalty. <standard disclaimer goes here> Regards. Rajiv