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

To: Richard Mazzarella who wrote (8774)	12/10/1998 5:48:00 PM
From: Ed Fishbaine	Read Replies (1) \| Respond to of 14226

Richard The idea of selling the precipitate outright is interesting. But assuming the reduction from 10 oz yields 3 oz., a sale to a major would have to accept a significant haircut (unless the major could demonstrate that he could extract upward of say 5 oz per ton from the precip). Without such an agreement it seems to me that working out the furnacing problems by GPGI is the better way to go. I know that you are impatient for results. I am too. But McKay has cleaned up the idiotic mess at the mill pretty quickly. I say give him a while to work out the furnacing situation. I don't think it will take too long. I tend to be optimistic, as you know, but I believe they are very close to being able to begin a final production mode even before they are fully satisfied that they have finessed the losses in the smelting to the lowest possible level. McKay is a pretty sharp guy with good judgment. He is not going to get into an ego thing in order to prove that he can master furnacing before he allows full production to begin. The ego problems belong to others who shall remain nameless. By the way, those with pretentious egos are compensating for defects in their self-esteem which is further based on their lack of competence. Regards, Ed