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

To: Karl Zetmeir who wrote (2964)	2/22/1999 6:21:00 PM
From: Raye Derickson	Read Replies (3) \| Respond to of 5143

At first I was somewhat taken back by the marble quarrying, but the longer view is generating some income that way beats the hell out of increasing debt or diluting shares. Still not sure about the reverse split 10:1, but it worked when the price was 8 cents a few months ago! Raye

To: Karl Zetmeir who wrote (2964)	2/22/1999 11:43:00 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 5143

<<1.) I don't know ... but I have a difficult time imagining that processing 60 lbs of material at a time through an outside consultants would be either very insightful or profitable. Hmmmmmm Let me see .... .46 opt at 60 lbs a batch ... not sure that works too good. >> The problem is that ... you say you will do something and never publish the results.. Such a pilot plan should have given a confirmation of the results of 1997 surface samples and bulk samples. <<2.)...... the Company can only answer questions regarding what did happen not what didn't happen.>> Fair enough. But it indicates that something is wrong. When you say you just find a mother lode...and you do nothing with it for 18 months... it creates doubts in people minds... at least in my mind. <<3. 3.) Again ... this is a question to ask Barrick or Newmont.>> I disagree... these groups know a lot that goes in the gold business on this planet. They are aware of what is discover and when, especially when it happens in their backyard. They may not react immediately but they do eventually. Look at how they grab up ALL deposits that are in the 6-7M ounces plus category. With Sinagua showing a potential of 600,000 ounces per meter of depth..no doubt that they would have rushed. I think it is a question to ask MGAU. <<4.)... worked with labs having previous experience with cinder type projects, fostered a relationship with J/L who's current system appears to work just fine with cinder materials as well as desert materials. >> According to 1997 press releases, conventional methods (SFA and all) were used to assay the surface samples and process the 124 tons of bulk samples. The grades were such that the normal course of action from there was a drill program. There was no need for the J/L process there as some have said here. This data is still available now and can be used to obtain financing on very advantageous terms. Obtaining $3-4 millions will not diluted the company in a meaningful way given the huge potential of Sinagua. <<As far as "precious time on other projects" ... I guess MGAU could have gone the Vancouver way ... and floated tens of millions of shares of stock to fund their cash >> No need for tens of millions shares...1M or 2M will finance a rather large drill program. <<What we wind up with is an aggressive company with great properties, successful technology and not a lot of shares out. >> I hope you are right.