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Technology Stocks : Xenolix Technologies (XTCI) 'Ecstasy'(Formerly MGAU) -- Ignore unavailable to you. Want to Upgrade?

To: Victorio who wrote (2706)	2/8/1999 9:37:00 AM
From: Paunch	Read Replies (1) \| Respond to of 5143

CR, The following is the main part of DR. Bhappu's statement to NASDAQ on March 6 , 1998 ( The evolution of precious metal mineral development in the free world.) I have seen the precious and base metal market go through numerous cycles during the last 40 years. The successful companies today do not wait for someone else to identify new geologic environments, develop a technology or cost reducing process. I have worked on many projects and assisted with the development of new technologies in the metal mining industry during this period. As near as 25 year ago , I presented a paper that projected the mining and economic recovery of one gram per ton ( 0.029 oz. per ton ) gold in the next decade. Many professionals in the industry scoffed at this projection, however, I was instrumental in the development of a new technology that allowed this to occur. The successful mining companies of today continue to be forward thinking and conduct research and development ( R&D ) on existing and new geologic environments. Many of these companies are large producers and, as a result, there is little notification in the public about their success and failures. I have provided a summary table ( EXIBIT 1) which outlines many of the developments in the precious metal industry during the past 30 + years. The companies I have identified are some of those that will survive the economic fluctuations of the metal price cycles. The Black Rock property of International Precious Metals represents a property that may have a chance for success. Precious metals are present in a new geologic environment. We have seen them via a number of testing programs and are now recognizing that a mineral potential may be identified in the near future. Significant work has been completed to date, however, there is significant research that still needs to be completed before this prospect can be held up as a viable project. The future development of this property will only be because this company is allowed to continue to evaluate this potential. Paunch