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Gold/Mining/Energy : Golden Eagle Int. (MYNG)
MYNG 0.0700+5.7%Feb 21 4:00 PM EST
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To: Douglas Lapp who wrote ()10/4/1999 1:30:00 AM
From: Fred C. Dobbs  Read Replies (1) of 34075
 
Gold still looks good.

kitco.com

Last updated on Oct 04 1999 at 01:02 New York Time
MARKET IS OPEN (Will close in 10 hours 57 minutes)
Metals*Bid* Ask* Change from NY Close
GOLD*307.50*310.50*+3.50*+1.15%

Things are starting to look affordable.
What was the price of an open-pit operation? $180-190 and maybe as low as $120?

In case GE forgot.

Donald M. Hausen, Ph.D., former chief mineralogist for Newmont Mining and a member of the Company?s Technical Advisory Board, also reviewed Behre Dolbear?s report, and stated: "Their results of gold sampling at Cangalli indicate that over 90% of samples contained significant amounts of visible gold from six widely separated areas. The erratic mineralization is typical due to "nugget" effects from sample to sample, but confirms that coarse gold occurs widely throughout the deposit. I was quite pleased that Behre Dolbear recommended that a bulk mining sampling operation be initiated to confirm the economic grades throughout large tonnages. They suggested that this bulk sampling be located at Chaco "plataforma", followed by other favorable locations. Large mineable samples would then provide more representative grades of gold that would guide the development of large open-pits in the near future."
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