To: Mike McKay who wrote (8243 ) 11/6/1998 9:40:00 PM From: JACK R. SMITH JR. Read Replies (1) | Respond to of 14226
Mike, First, I wish to say that your presence is most appreciated by me and many others. I would be further heartened if you would either write or approve all further news releases. I ask for honesty and a conservative approach. I fear that you have just made your first PR mistake in announcing the combined 10 oz per ton. Now, you have to extract it and get paid for it, then all will believe! Let me suggest a more conservative approach, and its realization will take some time and I personally give you that. Announce what we have extracted and been paid for as fact, and announce estimates on the very conservative side. This is my opinion, but only that. You, sir, are in charge of the production facility and I support you and those with you. Frankly, I do not expect you to provide great results any time soon, but I see you doing the right things in my mind. You are looking at the capacity of each function, machine and process in the line of production, and all I can say is that anyone who has been successful in a production business would be pleased with your appoach! Match capacity, verify the process, start small and successful and scale up as appropriate! Kill all the snakes (that you are aware of) before you turn on the machine, and fix what breaks quickly. Let not small problems become large ones. Always be aware the new ground is being plowed here and there are large rocks to be avoided! The lab is not a "pilot" facility. You know what I am talking about. Actually what we have here is a "pilot" facility, but that facility has to be our "production facility for now". When that facility is finally working to our advantage, threaten the penalty of "death" upon any person who makes unapproved changes to the process! There will certainly be some variance in the ore, but do not vary the process that works until a better one is proven by lab work and scaled up in a future "pilot plant"! You seem to have a very good understanding of "process control" and I am thankful for that. I am happy as a clam here, but you and I understand that we have a little more "firewalking" to do before this is over. We clearly have some "market inteference" from "unidentified sources" in process here. While I will not call in the SEC just yet, for I feel that those are external to GPGI, I feel that some assurance to the shareholders of the validity of that fact is in order. The external we can deal with and I have some suggestions on that subject. Realizing that there are forces afoot which plot our demise, we need a plan to avoid that end. I have not very deep pockets yet, and yours are much deeper than mine. The use of many small pockets and some larger ones might be a possible solution--A share/warrant package sounds reasonable to me, but I am not well versed in that area. I do feel that there is a reserve of some magnitude in our loyal investor base and perhaps even in some of our doubters! I know that I am a wordy person from the backhills of Arkansas, so I shall burden you and all no further here! Keep your powder "dry" and send me thy "schimitar" for a quality sharpening job at no charge! Sharpener of schimitars, maker of knives and knower of swordmakers and makers of tridents and aweful throwers of nets for dishonest persons, Jack!!