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Gold/Mining/Energy : Exall Resources/Glimmer Resources -- Ignore unavailable to you. Want to Upgrade?

To: James N. Wilson who wrote (765)	1/4/1999 10:18:00 PM
From: E. Charters	Read Replies (1) \| Respond to of 1319

Excellent grade, excellent reserve at a shallow depth. Will it go deeper? Is it open pittable? I know that with better mining methods they can take out fewer tons at better grade per ton and get better head grades.. this would lower costs underground and at the mill per ounce... It's possible it could knock costs down by 30% or better. I think they should aim at a 1500 ton per day or better operation and try to up the headgrade by taking material tighter to the structure, with more amenable equipment, perhaps a modified mining method. Right now costs are $220.00 per ounce. (I believe they quote $US when they do these stats) This could be improved and with their own milling facility that would improve dramatically over time. I don't know what potential there is to take it deeper. That is always a thorny question. It should be looked at as 250 metres is not deep by any means. EC<:-} mailto:echarter@vianet.on.ca The Canadian Mining Newsletter