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Gold/Mining/Energy : Greenstone (GRERF) -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (127)	4/5/1999 2:04:00 PM
From: Ron Everest	Respond to of 138

San Andres mine pours first gold bullion TORONTO, April 5 /CNW/ - Greenstone Resources Ltd. is pleased to announce that the first gold bar has been poured at its wholly owned San Andres Mine in Honduras. Current gold production at San Andres is now 250 ounces per day. Gold production will continue to increase to the monthly targeted rate of 15,000 ounces per month (180,000 ounces per year) by mid year. The Company's 1999 production target for San Andres is 117,000 ounces at a cash cost of US$120 per ounce. Surface mining commenced at San Andres in early January this year. Currently rock is being excavated at a rate of more than 10,500 metric tonnes per day and is expected to increase to 21,000 tonnes per day by June. To date, an international contract mining company has mined 441,000 metric tonnes of ore with an average grade of 1.67 grams of gold per tonne, with only one-half tonne of waste rock excavated for each tonne of ore. The primary and secondary crushers were commissioned on January 4th and February 9th respectively and both crushers have now achieved their daily design tonnage throughput. The drum agglomerator has also achieved its designed daily throughput after the starting system was modified to prevent a recurring mechanical failure of the drive shaft. The 1,000 metre down hill conveying system is operating within nominal design parameters, and is generating 400 kilowatts per hour, nearly 30 percent of the mine's on-going power requirements. Materials handling operations are delivering and stacking crushed ore on the leach pad at or above the daily rate required to meet the Company's near-term production targets. To date, 267,000 tonnes of ore containing 16,820 ounces of gold have been stacked on the leach pad. An additional 174,000 tonnes of lower grade ore containing 6,850 ounces of gold have been stockpiled for later treatment. A high grade zone encountered during pit excavation in late March comprised of 40,000 tonnes containing nearly 10,000 ounces of gold is being processed separately, with secondary crusher and grizzly settings maintained at an absolute minimum to insure optimal size reduction and maximum metallurgical recoveries. Eighty percent of the ore crushed and stacked on the heap leach pad is now being leached. Initial indications of the metallurgical characteristics of the agglomerated ore are positive, and are well within parameters established by laboratory testing. Solution grades fed to the carbon Adsorption- Desorption-Recovery plant have averaged more than 2.5 grams of gold per tonne of solution. During the first 13 days of recovery plant operations, daily production has grown to more than 250 ounces of gold per day. During the same period, total production reporting to carbon from the heaps has been 2,615 ounces of gold. Greenstone is an emerging gold production company with four operations: the San Andres mine in Honduras, the Cerro Mojon Mine and Bonanza Mine in Nicaragua, and the Santa Rosa Mine in Panama. Greenstone's common shares are listed on The Toronto Stock Exchange (GRE) and The Nasdaq Stock Market (GRERF). -0- 04/05/1999 For further information: please contact: Allen S. Gordon, President and Chief Executive Officer, Julio DiGirolamo, Vice President - Treasurer, at Telephone (416) 862-7300 -------------------------------------------------------------------------- Release sent courtesy of Canada NewsWire Portfolio Email.

To: Stephen O who wrote (127)	4/16/1999 8:32:00 PM
From: Ron Everest	Read Replies (1) \| Respond to of 138

Well, this SI thread has gone dead, however.......notice the momentum building on GRE. Only last year they were at $5 - $6. Any spike in AU price will cause GRE to have an uptick, they appear to have a large following. There appears to be some sustained buying holding the price in the 40 cents plus range. Canada: GRE - GREENSTONE RES LTD Close prices: 19990416 T 0.45 0.40 0.44 +0.04 1150100 19990415 T 0.41 0.38 0.40 +0.01 340648 19990414 T 0.40 0.38 0.39 0.00 157400 19990413 T 0.42 0.38 0.39 -0.01 649900 19990412 T 0.43 0.39 0.40 0.00 701904