Chartwell International Reveals Independent Appraisal Findings.Business Editors DENVER--(BUSINESS WIRE)--Jan. 18, 2001 Chartwell International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRWJ), a publicly traded holding company, today announced the findings from reports completed in the last half of calendar 2000 prepared by Jack Bright, RPG (Report Program Generator) One of the first program generators designed for business reports, introduced in 1964 by IBM. In 1970, RPG II added enhancements that made it a mainstay programming language for business applications on IBM's System/3x midrange computers. , registered professional geologist, and Behre Dolbear & Company, the oldest continuously operating mineral industry consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a in North America, founded in 1911, and which specializes in mineral property valuations. The reports produced a range of conclusions. High-grade gypsum gypsum (jĭp`səm), mineral composed of calcium sulfate (calcium, sulfur, and oxygen) with two molecules of water, CaSO4·2H2O. It is the most common sulfate mineral, occurring in many places in a variety of forms. is used in a number of applications, but principally in the food, pharmaceutical, dentistry, and environmental industries. Specialty-grade gypsum is used in the agricultural and animal feed industries. Chartwell obtained prices for high-grade ground gypsum, bagged and delivered to Los Angeles, ranging from $60 to $110 per ton. Specialty-grade gypsum ranges in price from $50 to $75 per ton, delivered to Los Angeles. The estimated profit margins per ton for the high-grade range from $20 to $70 per ton, and $10 to $35 per ton for the specialty-grade product. According to the Bright report, chemical analysis of 115 surfaces taken from Chartwell's 13 gypsum placer claims indicate that "within 600,000 square foot area in the NW 1/4 of Section 24, the average value of the samples taken within this area indicated a grade of 93% gypsum. An estimated 830,000 tons of probable reserves exists within 25 feet of the surface within this same area. It is reasonable to expect that much larger quantities of gypsum are present on Chartwell's claims but drilling is needed to confirm grade and tonnage." Based on the Bright report, the estimated gross value ranges from $33,200,000 to $41,500,000. According to the Behre Dolbear report, "Based upon 830,000 tons of probable reserves, the claims would have an undiscounted present value ranging from $3.6 million to $8.7 million, assuming a sales price of $40 per ton to $60 per ton for potential gypsum products produced." The Company is a fully reporting issuer, and Chartwell's common stock is quoted on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Over-The-Counter Bulletin Board under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CRWJ. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Certain statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties not known or disclosed herein that could cause actual results to differ materially from those expressed herein. |
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