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

To: Eashoa' M'sheekha who wrote (1986)	2/10/1999 8:22:00 AM
From: E. Charters	Read Replies (1) \| Respond to of 2249

Queenie started out placer mining in BC until the gov't decided that was a bad idea they were making small bucks. Then they decided to hunt for the source of some of the BC placer deposits. They seemed to be getting lucky with that but nothing led anywhere. I thought they had something in Venezuela and it had ounces in it but they slunk away on that. I suspect they are afraid of production, so like the Flying Dutchman, they spectrally sail the world seeking some mine to mate with, presumably for a huge profit. It seems like a long lonesome hunt. Others have been more successful. With greater resources admittedly, in this time, major companies and small have discovered resources in Chile, Peru, Guyana, PNG, and Argentina. Clive Johnson for all his share dilution has built a fair company. Mar West did its best and poked away at some reasonable ground. Greenstone did alright with some mines.. even poh' Rea Gold found some stuff. Of course Queenie is still cash rich. If you don't drill you keep the cash. But the object is to spend that cash and look for situations or orebodies. I could have directed Queenie to two profitable mines in Canada. Some prospector buddies and myself tried to sell George Kent's Glimmer property since about 1992. Finally the forces of Roman snapped it up and it produces at 220 an ounce on contract. I had another one with a million tons of .35 right on the surface, ramp already in. The scions of power and wealth are far too clever too get trapped by such profitable little enterprises. Blowing the wad in Bonga Bonga land at 100 dollars a foot as the rebel machine guns rattle in the bush is obviously far more praiseworthy than minting bricks at home for bank-stashed bucks. EC<:-}