Thanks for that info from Global Finishing’s own website.  So according to that info, GBB has already identified about 80,000 ounces of gold they can produce. 

Production costs at Joe Mann have been averaging $400 USD an ounce (it’s not like Copper Rand, when production costs can be modeled as “zero”, because of the very high copper component). 

But even with a $400 production cost, GBB would realize a profit of $40 million (over a period of time).  Their cash investment up front?  Looks like $200,000.   Sweet deal. 

Is this deal good for the long time holders (many of them Quebecois) and new retail investors (that would be us) in Campbell Resources?  I don’t think so.

Another point:  if Gold Bullion (GBB.V) is so sure they can realize a profit at Joe Mann,  why can’t Campbell do it?  Isn’t it supposed to be the same production crew?  

Another point (raised by one of our International friends) is that if Nuinsco has not been providing “consulting services” at Joe Mann for the last few months (and such service  was including in the Nuinsco agreement), why is Campbell still paying them the same rate (200,000 shares per month)?.  The Joe Mann mine was “the big challenge”.  If Nuinsco is doing less work, do they deserve they deserve the  same payment?

Now look at this… Here is the table of Joe Mann Reserves and Resources documented in the “2001 Proxy Circular” for the merger of MSV Resources, Campbell Resources, and GeoNova. 

Mr. Fortier mentioned this document to us.  It’s available in Sedar, dated May 2001 

This 2001 document also has the details on the “revised” Copper Rand Feasibility study.  But that’s a different mine.  It explains the perfectly legitimate excuse as to how Management has been able to present much lower Reserves at Copper Rand than what the 1997 Feasibility study showed  (answer: because the revised report did not cover 500 feet of vertical depth).  Remember:  I don’t think there has been anything done that is illegal.  They have been very careful.

Looks to me like the known Reserves and Resources at Joe Mann might be  little bit higher than we have been told.  In 2000, they still had 100,000 ounces (and Resources 400,000 ounces).  Production since 200 has not been that high - Can anyone add up the total ounces produced since 200? - it’s not that much, I don't think.

                   Joe Mann Mineral Reserves
                  December 31, 2000 December 31, 1999 December 31, 1998
                           Grade           Grade             Grade

                      Tons (oz./ton)     Tons   (oz/ton) Tons  (oz/ton)

          Proven     236,200   0.286   179,924  0.269   397,305  0.231
          Probable    91,500   0.350   121,945  0.295   119,285  0.224
            Total    327,700   0.304   301,869  0.280   516,590  0.229

                           Mineral Resources (excluding reserves)
                                  December 31, 2000
                                         Grade       Grade
                              Tons    (Au oz/ton)    (Cu %)

             Measured        215,000      0.349       0.34
             Indicated   1,080,000      0.319       0.28

Is there a chance that there is some Downplay occurring here? And that even Joe Mann actually has a much larger GOLD deposit left than is being revealed by Management?.