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: steadyasyougo who wrote (30475)	2/8/2003 3:22:06 PM
From: Claude Cormier	Read Replies (1) of 34075

Gerald, The numbers I gave you are indeed what a miner would pay for proven & probable reserves ($50-$200) or resource (0-50). In other word, how much the ounces are worth. Not how much they are valued by the market. Obviously I think that the Goldcorp of the world are expensive and their current valuation show anticipation of much higher gold prices. BTW, I value probable and proven at the same level. The $0-$50 is for resources, not probable reserves. Imgold is indeed selling at only US$150 per ounce (proven, probable and M&I) which is much cheaper than the other bunch. The numbers goes to US$210 if you use only proven and probable. <These numbers do not apply to GE. GE has no proven or probable reserves, by the accepted guidelines. > Exact. <We will have to wait to see if we ever define any reserves. > That is not the intention of management, if I understand GE correctly. That is why GE will always deserve a market value based on a conservative ratio of current cash flows.

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