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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (10402)	5/16/1999 2:31:00 PM
From: Ed Fishbaine	Read Replies (1) \| Respond to of 14226

Zeev If the ability to produce 1000 lbs of slime in a reasonable time is as limited as you suggest why did McKay use 1000 lbs as the target. Why didn't he move from the small test sample to 100 or 200 pounds? So far he has not promised what he hasn't produced. Don't confuse his prospectives with those of Jensen. Ed

To: Zeev Hed who wrote (10402)	5/16/1999 7:46:00 PM
From: Bob Walsh	Read Replies (1) \| Respond to of 14226

Zeev, Mike said that commercial production started April 19th. He also said that they expected to ship 1,000 pounds of slimes to Sabin upon completion of Sabin's evaluation of the two kilogram sample shipped on April 29th. I we assume that Sabin will take two weeks to do their evaluation that would mean that GPGI would ship the 1,000 pounds of slimes about May 15th give or take a week. That means that it MAY have taken GPGI about 3 weeks to produce the 1,000 pounds of slimes. If the value of 2,000 pounds of slimes was $597,000 then 1,000 pounds would be valued at $298,500. Per the samples sent to Sabin, the amount of precious metals was an average of 7.96 ounces per ton of screened ore with a value (my calculations) of approx. $3,720. Dividing the value of one ton of slimes ($298,500) by $3,720 yields approximately 80 tons of screened ore required to be processed. Ergo, they took about 3 weeks to process 80 tons of screened ore to get 1,000 pounds of slimes. Obviously these are based on assumptions which may be wrong in either direction but probably not by too much. Regards, Bob