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: Claude Cormier who wrote (30591)	2/25/2003 12:28:38 PM
From: ge-believer	Read Replies (1) of 34075

Claude, you say that GE had "not enough samples" to claim reserves persuant to the SEC Guide 7. But the SEC did not make that argument in court, and you haven't even seen the study. The SEC did argue that an American company should not be pemitted to rely upon a Bolivian geologist. THAT seems to have been their complaint with the 1998 study, in which proven reserves were claimed. Still, your point about the number of samples is often made, just not by those familiar with the study. You have given us some idea of the numbers typically required, but that number must depend greatly on the sample size (500# in this case), and consistency of results, and on how the results were used in calculating reserves. It seems to me that this kind of analysis would have to be done by a mathematician, like Guido, rather than a geologist.

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