Golden Eagle Int. (MYNG) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Golden Eagle Int. (MYNG)

MYNG 0.0700

+5.7%

Feb 21 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Claude Cormier who wrote (3324)	5/25/1998 10:56:00 PM
From: Michel Grenier	Read Replies (4) of 34075

Claude, on this one, I disagree. The annual report will show a loss of around $4M. Recently, they borrowed money ($250 000) through convertible debentures. They have a market cap of at most $48M (at last trading price of around $0.30 and a maximum of 180M shares). To get financing in those conditions, they would have to sell the farm... cheap. If, however, they start production on a relatively small scale as planned and generate $2M to $3M a month in net income, they can self finance more complete surveys and then, go to the bank or to partners and get good conditions. Big cash flows will not come as fast, but they will keep more of it when it comes, IMHO

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next