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: CIMA who wrote (3685)	5/28/1998 12:32:00 AM
From: Claude Cormier	Read Replies (3) of 34075

CIMA, As of 97-09-30, the company has $1,000 in the bank and the $1M credit faciliticy had all been used. I reviewed the SEC filing from that date and saw nothing regarding any financing. To 97-09-30, MINE had spent some $950,000 on exploration since the 97-01-01. At that time there were 88M shares outstanding. SO if there is still the same number of shares out, we can only conclude that no money (or very little) was spent on exploration in the last 6 months. The balance sheet shows a prepaid expense of $93K on 97-09-30. Maybe this was a prepayment for Guido's and his team contract. Still these $$ numbers looks low to me given when compared to the recent numbers announced. Comments ?

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