Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Exall Resources/Glimmer Resources -- Ignore unavailable to you. Want to Upgrade?

To: James N. Wilson who wrote (849)	2/28/1999 9:08:00 AM
From: Winzer	Read Replies (1) \| Respond to of 1319

James, <<I don't know how a 3rd party could be envolved unless the percentage dispute is resolved first.>> Contract mining would work the best. BTW, seems to me this was the original game plan before Exall had the brilliant idea of replacing them with their own "expertise". And we know the rest of that story. The idea of a company checking up on a contractor, while not perfect, has worked for generations. And Canadian contract miners are some of the best (if not the best) in the world. They get paid for results not promises. Point here being, Exall APPARENTLY (and I'm just speculating) set up a situation where it was accountable to itself. Some of my contacts back then were sales people and when they describe what changes were being contemplated it was not hard to figure out where this was heading. Thus I loaded up on GME (and EXL to a lesser extent). And the rest as they say is history. Another contract option used is to have the contractor in the development phase and have the company take over in the steady state (operating) phase of operations. Yet another option would be to have an equity partnership. And it is a little more complicated; but it would work like this. Some third party (e.g. SAS, Placer Dome, Kinross, Barrick because of their mill) would say that they want to join the party and their mill is worth so much dollars. Then that major or mid-cap would become the operator (in for example, a 30/30/40 split). This way Exall will be relieved of control and management would go to mining professionals. I'd better stop before I really confuse the issue. But I'm sure Eric may have some other options to contribute. I took a poll of the SI PM's that I get and 100% favour Glimmer on election day. Most understand what transpired and wish that the foot dragging stop. Winzer