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

To: Joe Hartenbower who wrote (3960)	5/31/1999 10:45:00 AM
From: Char	Read Replies (1) \| Respond to of 5143

Joe, picked this up on another thread. Sounds like we're about to get a little more exposure. Anyone planning on going to the NY Gold Show.? I would appreciate some feedback after. >Both of the new directors are right on top of this and both are going to be a big help with "the street". Both of them are going to man our booth at the New York gold show in a couple of weeks. I am particularly impressed that J. Lanshe is getting proactive with the co., this guy is a big hitter.< Char

To: Joe Hartenbower who wrote (3960)	5/31/1999 5:15:00 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 5143

<< A lot of us tilt the odds in favor because we respect and trust Mike>> I can understand that. But it doesn't change the situation. Just because Mike is a trusty person doesn't guarantee that there is enough gold in there to justify a 100 or 1000 tpd operation. I am still saying that even Mike cannot be sure that all the ounces are there. Some ounces are there... that is all he can say. And as he pull out the checks, he will be able to say: "Ok, now we know there was at least that much gold in there". All this because he has no proven reserves and doesn't intend to go that route. It may be the best way to go. Only time will tell. Here is how it is done in the mining business....even in Arizona. This is the traditional approach, and it works. I am not suggesting that this company is a buy, but just that it is going with the good methodology: Asia Minerals Corp AMP Shares issued 27,815,129 1999-05-28 close $0.16 Monday May 31 1999 Mr. David Owens reviews the company The company completed a positive scoping study (by MRDI) on the high-grade Copperstone gold project in Arizona in February, 1999.... At year-end the company had incurred $575,000 of exploration expenditures on a 15-hole surface drilling program and an independent scoping study of a 500-ton-per-day underground mine. The diluted and capped resource base for the Copperstone gold scoping study is 827,400 tons at a gold grade of 0.56 of an ounce per ton (460,000 ounces of gold). A discounted cash flow model based on a gold price of $300 (U.S.) per ounce projects a cumulative cash flow of $31.6-million (U.S.) over five years and a 45.4-per-cent rate of return on a pretax basis. Cash production costs are estimated at $149 (U.S.) per ounce. The net present value of the project at a 10-per-cent discount is $18.2-million (U.S.). --------------- Again, Joe...my answer is maybe...(not a yes not a no) ...until ...either MGAU proves up reserves or they turn out very large checks every week..on a non-stop basis... then in several months, I'll start saying that its more a yes than a maybe.