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Gold/Mining/Energy : Phoenix Metals U.S.A. - PMTU -- Ignore unavailable to you. Want to Upgrade?

To: jhc who wrote (33)	11/17/1998 4:42:00 PM
From: Tim Hall	Read Replies (5) \| Respond to of 80

Hi Big John, how have you been? Eastern Arizona is a lot of country. There are cinder cones everywhere from Springerville to Show Low to Flagstaff. Probably several thousand. I believe they are all about the same geological age. If they all contain pm's gold should be down to $10/oz as soon as they are all in production. VBG Tim

To: jhc who wrote (33)	11/21/1998 4:08:00 PM
From: banco$	Respond to of 80

Hi Big John, For better or worse Phoenix will not tease us with minute progress details. This means we are left to weigh the risk of not holding shares when meaningful announcements are eventually made regarding production, (forward) sales, securities upgrade etc. I expect these announcements to be more timely as the picture comes together. From PMTU's site: "policy of the Company not to speculate with projections or early results until a meaningful track record of production resulting in recovered metal has been established" Notice how reserved the company is based upon its statement regarding termination of the SEC matter. The Court terminated the matter on May 22, 1998 and Phoenix did not comment until July 27th. Most companies would issue a release within a day or two of such an important development.