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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Oil who wrote (985)	11/12/1998 9:36:00 PM
From: George S. Montgomery	Read Replies (1) \| Respond to of 2514

I bet you're not talking about anything but early 1999. Otherwise, what a hell of a well considered stock to speculate on!

To: Mr. Oil who wrote (985)	11/13/1998 12:57:00 AM
From: Jesse	Read Replies (1) \| Respond to of 2514

More UPDATE: Thanks so much for the update, RTR! It proved a double bonus, because Marum President Rick Boulay saw your post and decided to expand on it in another message-- I will post it here, with Rick's permission: ------------ ------------ ----------- ------------ ------------- In response to Ray on the MMU thread: I meant we would have the final geochem results in a couple of weeks, there will be no drilling until January. Also, the initial program will have about 10 targets for definite drilling with about 20 or thirty backup targets on the list. Our current intention is to keep our 100% land intact and only joint venture the CaribGold/JV land. In this way we can piggy-back on our joint venture partners mobilization and share costs. Also, our target selection will be based upon, among other factors, the lack of overburden. I am paranoid about overburden, having spent 15 years financing open pit mines around the world. The entire Alberta diamond industry (as opposed to the short term play) will be driven by overburden removal costs and tailings management. This is why we consider overburden in excess of ten metres to be excessive. Over 10 metres the Alberta disadvantage disappears and you are dealing with NWT or higher costs. For a 500 m diameter pipe, the cost per metre of overburden pre-stripping is highly variable to a depth of about 20 metres (a 7 story building) where there is likely to be a wide variation in water flow (none to a lot) and there are options between dragline and truck/shovel configurations. Over 20 metres of thickness, our models indicate costs will likely range from $5 million to $12 million per vertical metre of overburden pre-stripping over the entire overburden depth, including amortization and residual cost recapture of the truck and shovel fleet, but excluding any consideration for rock waste removal around the orebody. Then, of course, there will be the matter of the usual waste to ore stripping ratio to consider once the overburden is removed. Also, the soft Cretaceous mudstones will not likely form an effective crown to permit underground mining and the rocks themselves probably lack the integrity to support a mining operation at acceptable costs. Big unknowns. Surprisingly, our queries indicate that Marum is the only company in the play that has contacted the big coal and oilsand miners to get a handle on stripping costs. The Alberta diamond play is really confined to very small geographic islands in a great ocean of glacial till. As this reality becomes known we expect the entire perception of the play will change. Our target selection procedure is progressing and we will probably release details of the program within 10 days, even before the final geochem results, because the results still pending are confirmation samples for choice targets that are unlikely to be downgraded. As a technical tidbit, in keeping with our policy of cooperating with the AGS [Alberta Geological Survey] and other organizations, we have taken tree samples over anomalies. While still a research project, the Monopros Mountain Lake pipe trees show pronounced metallic anomalies compared to trees away from the pipes. Aspen are apparently the best trees. Don't ask me why. We will submit the results to the AGS and keep building the knowledge base. If it does work it will be a great exploration tool because collection is relatively easy and lab analysis costs are very low. / / End. ------------ ------------ ----------- ------------ ------------- ------------ ------------ ----------- ------------ -One thing I'll say, this is a company that has obviously thought things through. Best Regards, -j :> PS. ! More impressive background on Mr.Boulay (from above): "...having spent 15 years financing open pit mines around the world." - - He'd know, then!