Thank you for your questions about Golden Eagle. Also, thank you for your
confidence and support--having been a shareholder for quite some time.
Golden Eagle had one of its market makers, Paramount Securities of New York,
file a Form 211 with the NASD to get Golden Eagle shares quoted on the
Bulletin Board again. This process has taken about 7 months since it
began. We are not in control of this aspect of Golden Eagle's future. The
NASD is the association of securities dealers, so they only answer to other
dealers. We have provided all of the requested materials to Paramount, for
them to provide the same to the NASD. And we will continue with that
process. For all of the foregoing, we cannot predict with accuracy when the
NASD will allow the stock to be quoted again on the Bulletin Board.
Even so, the Pink Sheets are going electronic this week. This could be a
very important step for companies trading on the Pinks. Electronic quotation
gives market makers, shareholders and prospective shareholders better access
to current market information on the stock. This important factor could be
significant in the near future. We will watch this together with you.
Golden Eagle is producing--and has produced some gold almost every day for
three years. The problem is producing sufficient gold, at a sufficiently
low cost, to pay the bills. We have had a shortfall on our production
during the entire time--mainly because we have not had high enough
recoveries and large enough productions to benefit from economies of scale.
As you know, Dr. Ronald Atwood has just finished work at the Cangalli site
on the metallurgy of our gold recovery, and the economics of larger-scale
production. That information will be released soon and should help us to
build a more solid production foundation. Please watch for the release of
the specific information.
Our other strategies: land acquisitions & the coop buyout, are in the works
also, as we have previously announced. We are in a very interesting time
for Golden Eagle. Please keep us apprised of how you think that we are
doing.
Best Regards,
Golden Eagle Management |
