Golden Eagle Int. (MYNG) Message Board

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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: T C Fifer who wrote (29262)	10/24/2002 12:36:14 AM
From: Claude Cormier	Read Replies (2) of 34075

<Placer deposits come in different forms under different circumstances. In GE's case, the placer deposit is in conglomerate form, which is close to concrete. > You are certainly right. A prime example are the Witwatersrand deposits in South Africa. But the average grades there were much less erractic than Cangally and probably 20 times higher near 0.30 ounces per ton. These deposits have probably produced 1.5 billion ounces of gold out of 5 billions tons of conglomerates. So I do not think that the problem at Cangalli is related to the mining process, it is rather a problem of quality and definition of reserves. Without reserves, how can you justify high market values ?

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