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Author Topic: ALMI - update
Purl Gurl

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Please read my previous article on ALMI stock
which contains a lot of information. This
new article will keep it short.

Before the update, I want you, the reader,
to know we have not yet accumulated ALMI
stock but are working hard at this. All of
us are on equal footing.

My discussions with Bill Jacobson, CEO of
ALMI are continuing. I find Bill to be a
nice person who is candid and honest. It
is clear to me he is working for investors,
not solely for himself.

Some confusion developed for me not fully
understanding why "shafts" are needed for
mining operations to extract Halloysite.

Bill explains,

"As far as underground v.s. open pit, the
studies we have done indicate a sizable
about of overburden to be removed to access
all the halloysite. Cost factor is
significantly more."

Clearly I did not think of my geology lessons.
Overburden is sediment, dirt, rocks and such
deposited over millions of year, covering this
Halloysite deposit. You see this at the base
of mountains and hills as an "alluvial fan"
or those "fan" shaped deposits at the bottom
of mountains and hills, "stuff" weathered
down and deposited in an upside down fan
like shape. Very typical stuff.

It is good common sense to use tunnels to
extract the clay from below rather than
try to remove millions of tons of debris
above, then "scoop and dump" Hallyosite.

Seems to me I read those mine shafts at the
Dragon mine already have rail tracks in
place, which will be a money saver. Check
me on this; I am too lazy right now to pull
my reference notes.

Again, I am impressed with Bill Jacobson.
He is responsive, not afraid to tackle my
toughest questions and comes across in a
very sincere humble fashion.

I cannot share all we talk about in respect
for his privacy as a person, not a CEO.
Nonetheless, I will continue to share what
is appropriate with you.

Wishing you a good trading day tomorrow
and for Heaven's sake, stay out of my way
on the trading floor. I will step on your
toes and kick your shins, if you do not.

I am in this for the money, Buster.

Purl Gurl

Posts: 7504 | Registered: Dec 2003  |  IP: Logged | Report this post to a Moderator

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I've been looking at this company and was wondering if you knew of anywhere that I could find any details of the relationship between Chester Mining and Atlas concerning the Dragon mine (length of lease, any costs to Atlas other than 3% of the gross and 100,000 shares per annum etc.). Thanks.

Posts: 12 | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator

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