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

To: Chuca Marsh who wrote (2742)	2/12/1999 11:39:00 AM
From: Victorio	Read Replies (1) \| Respond to of 5143

Interesting read and tie in to Mike's recent President's letter. mg-resources.com Goldman Sachs January 13, 1999 Report ---Education Series #1 An Investor's Guide to the History and Techniques of Processing Gold Ores by Kenneth G. Thomas, Senior VP Barrick Gold Corporation. He is the foremost authority on processing technology of DIFFICULT-TO-TREAT gold ores. Thomas is regarded as the industry's foremost metallurgical authority who provides a look at the development of processing technologies in the gold mining industry. Processing technology Developments are important to investors in the gold mining industry because of their potential impact on expanding ore reserves and reducing operating costs (ties to Mike's Prez letter!) Over the 25 years, process technological breakthroughs such as heap leaching, autoclaving, and oxygenated roasting have turned gold mineralized material that would have otherwise been left as vast amounts of waste rock into huge amounts of valuable gold reserves. In fact, more than half of the gold reserves of the companies that GS follows depend on these processes. Process enhancements that increase recoveries or lower costs could effectively lower mine cost structures and improve the tight margins that currently exist. As time passes, gold mining and related processing techniques are becoming more and more sophisticated. As the world's supply of easily worked gold deposits diminishes, new sources and more efficient processes for “LIBRATING” gold are being sought and more REFRACTORY ores are being treated. Refractory refers to gold ores that are not amenable to efficient gold recovery via cyanidation or gravity concentration without additional processing. The report is excellent!