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Gold/Mining/Energy : NPEC - The thread for NEW shareholders of NP Energy -- Ignore unavailable to you. Want to Upgrade?

To: David in Ontario who wrote (23)	3/25/1999 12:17:00 AM
From: J. Williams	Read Replies (1) \| Respond to of 228

David, I'll take a stab at it..... First a small primer- one troy ounce = 31.103 grams, a standard ounce = 28.28.35 grams...so you understand the difference. One ton ( metric ton usually) = about 2200 pounds. The volume of one ton is dependent upon the make up of the mineralization of that ton of material. Now to the meat of the release: The assay report states that on Drill Hole DDH 9-03 1.13 grams of gold were found. My interpretation of the copper grade is .466% of the volume of each ton of material assayed. I do not interpret it to read 46.6 % (which would be phenominal). My interpretation of these numbers is that they are ho-hum values. But when you factor in that this area will be an open pit mine then the values take on a different meaning (compared to hard rock or drift/tunnel mining. 1.13 grams /ton (on a scale of 1 to 10 is a 6.5 to me) by all means indicates a very good viability for an open pit mine. Here in Calif one open pit mine operates at a about .25 gr/ton and is very profitable because of the automated processes employed. Any other minerals encountered would be a definite plus to the assay report. While this drill program of about 20 hole will give MDIN approximate boundrys, the company will be able to approximate the relative overall value of the area drilled. To substantiate the "find", the deposit will have to be drill "proven" with about 50 holes. When the current drill program is completed, MDIN will most likely come out with approximate figures establishing a value of the deposit based on the average of all the drill indications. This is the value that will be carefully scrutinized by the mining industry/community and investment community. Given the jitters the mainstream markets are experiencing; in a short period of time COULD result in a return to metals as a hedge against a falling market and inflation. If gold regains its value to the $350 range, then the value of the deposit is that much more. All this is just a laymen's knowledge and is not to be taken as gospel. All in all, I believe the report is very positive and now all we need is a good release from NPEC and I believe we could see $.10 to .15 in week or two. Juanita/moonglow could very well be on target if the news gets better and better but ....REAL FINANCIALS would do more even if NPEC was in the red...after all, this is an exploration and entreprenurial comany. If NPEC financials showed black ink, well then that is a different story. Be reminded all contained in this post is the OPINION of the writer!!! regards...JWMS