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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 (791)2/12/1998 12:30:00 PM
From: CIMA  Read Replies (2) of 34075
 
I just spoke with Guy Murell at Investor Relations. He said that a press release should be out in the next couple of hours or so.

Several interesting points:

1) That the area has been under El Nino related torrential downpours for the past couple of months to the best of his knowledge. The mudslide was not in the Cangalli area.

2) That there are delays and the hope is that open-pit mining will commence in mid-March. Meanwhile, gold extracted from the shaft is covering expenses.

3) They hope to have a resource calculation in March.

4) He expressed some frustration with management over releasing news. He would rather be proactive in order to prevent the rampant speculation and rumors caused by the lack of news. In management's defense he said Terry Turner is extremely busy and all of his efforts are pointed at getting the open-pit going.
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