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

To: Richard Mazzarella who wrote (8922)	12/30/1998 10:26:00 AM
From: Ed Fishbaine	Read Replies (2) \| Respond to of 14226

Richard I agree that the critical result is the ability to extract the metal economically. Even if Globals ore was much less richer than we all believe, the ability to extract would have application to other deposits scattered in the southwest and very likely in places throughout the world. It is difficult for me to believe that with 10 ounces per ton of metal in the precipitate it will not be possible to extract more than 1 ounce per ton (aside from the fact that 1 ounce would be economic considering the low costs of operation for a surface mine). As far as reserves go, multiple trenching was done on the Weaver Creek property down to as much as 30 feet. While formal COC testing was never done, there was relative consistency to the multiple samples indicating gold and pgm metals. An estimate of the stripping ratio is 4 to 1. IMO, if the head ore at the Hassayampa, after screening, can demonstrate 10 ounces per ton, the margin for error is very wide. There has been some talk that the Weaver Creek ore is a bit richer than the Hassayampa stuff though the ores are basically the same. Also remember that the 1 million ton pile at the Hassayampa mill does not reflect the estimated 15 million tons on the Hassyamapa property of raw ore down to 30 feet. You are basically right when you estimate the reserves of Global in the billions of tons. In my view once recovery ability is demonstrated this company should be moved from a backwoods mom and pop operation to a full fledged professional management operation. The deposit it controls could, under proper management could make it a very major player in the production of pgms. What I am saying is that I have minimum doubt about the ultimate viability of the company in transmuted form. Regards, Ed