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

To: Claude Cormier who wrote (3862)	5/27/1999 11:03:00 AM
From: Karl Zetmeir	Read Replies (2) \| Respond to of 5143

I'm getting confused ... First Mason Coggins says "If you can't cuppel it ... you can't sell it" So we cuppeled it and sold it. Now we have someone telling us if you haven't drilled it ... it ain't ore ... even though we're recovering 1.4 opt. Personally ... I'm ready to throw the the purists out with the bathwater ... and go for the money!!

To: Claude Cormier who wrote (3862)	5/27/1999 11:18:00 AM
From: Char	Respond to of 5143

Claude I think there is a difference between the definition of ORE and the definition of an OREBODY. However I think the testing to the 5 ft level shows that we have an orebody at least to that level. >Cost of Gold Recovery Based on the recovery of 1.41 ounces of gold per ton which MG achieved with the first ton of ore processed at the pilot plant, projections have been made which indicate costs of recovery utilizing a gold price at $280 per ounce. At the current five tons per day, recovery costs are at $210 per ounce and at the plant's current capability of ten tons per day cost is at $140 per ounce. MG is acquiring the necessary equipment to increase production to 100 tons per day at a projected cost of $100 per ounce with a completion target date of June 30, 1999. The company has set the goal of achieving one thousand tons per day by the end of 1999 or early 2000 with the projected cost of recovery at $70 per ounce.< Since MGAU knows the cost of recovery they must have done an economic study to come up with these figures. It may have been done in house but it's good enough for me. I agree with Karl. All I want to see is production and checks. Char