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Gold/Mining/Energy : Queenstake Resources (QTR.T) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (1699)	1/7/1999 11:52:00 AM
From: Shirley Owen	Read Replies (2) \| Respond to of 2249

Hey Claude, Good morning! Finally found something that I really disagree with you on.:-)), and that is <<..The Lundin should have accepted..they were greedy IMO. The property was worth $5.50 to ABX...but much less to others. I doubt they will get a higher bid..>> I think the Lundin's would have been crazy to sell it at this point, and with the consistently wide intersections and good grades, this may turn out to be a real elephant. It certainly is looking that way. When you get those kind of widths and grades it doesn't take long to build up huge tonnage. The fact that they are in close proximity to the Pascua, and in the same geologic belt, is another factor to take into consideration. I think it was elcasmirb who said something about "gut feelings" and that's what I have about this one. I wouldn't dream of selling if I were them. Not yet, anyway. I think Barrick saw the potential and tried to do a quick and dirty grab. Second, You may be right about the width and grade, or close to it, on the Eskay glory hole. Dave thought it was around .80 and 300, but we talked about it last night,(brought back a lot of good memories, as well as some very frustrating ones), and I said I thought it was over 1oz./ton and over 500 feet. Can't be sure anymore, because I long ago threw out the file I had on it. My mind is a little rusty. I'll accept your memory, which is probably better than this old "fog noggin" So we'll say that I agree.:-))) <<..Maybe ABX learned a lesson with Arequipa...they did pay $150/ounce or so...>> I remember all the majors pooh poohing the deal( In fact one Senior Exec.said to a reporter, on the condition of anonymity, that he thought Munk was crazy for paying $30.00 a share, but like the old fox he was, he has proven them all wrong once again. With 8 million ounces and growing, I don't think he feels too bad. Don't forget CMS let their geologists on the property to observe all the while they were drilling so they had a real good read on the geology. Cheers Shirley