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: Mr Metals who wrote (1427)	3/25/1998 9:59:00 PM
From: Pianoman1997	Read Replies (1) of 34075

®I've said before,it's going to take a lot of work/money to bring a 1/4 of that into a proven reserve category.¯ Mr. Metals, Would you or anyone else specify what kind of samples were these 1000 samples. So far IM confused, they really look like they were grab samples, trench samples (surface sampling) to delineate mineralization and potential drill target. Most companies do that (initially with a magnetic survey) to find their best targets because drilling is very expensive. It would probably cost 8-10 M$ to prove by drilling 1-2 MOz of gold with high grade mineralization. Some seem to mix Proven, Probable and Inferred reserves. Like you said it is a good promotion, which is not wrong assuming they would probably like to do a financing at higher price to avoid further dilution and continue exploration. What is their current cash position? If they could show a few good drilling intercepts along with a great surface sampling program then the price would have to go up from here. I am staying on the sidelines at the moment because it takes a lot to move this Gold Market these days and investors are hard to impress with this low POG. (just look at TNX-ASE). Congrats for the ones that were in early. Dan

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