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: Jim Bishop who wrote (10036)	7/15/1998 4:06:00 PM
From: Henry Volquardsen	Read Replies (1) of 34075

Jim, re 2 sorry that must have been a Freudian slip. My apology. I believe their phrase was incomplete and misleading or something to that effect. re 3 they released the pr that referenced Guido's report with the 150mm+ ounce number. They may not have specifically stated largest deposit but they fed the rumour mill. re 4 I have read the 8k re 6 I believe I read that all the samples were taken by Guido and held in his possession during the testing produce. I am not implying anything about Guido. As far as I know he is a reputable scientist. But having him maintain custody of the samples does not, I suspect, qualify as a secure chain of custody. re 7 I don't want to get people in a tizzy about what kind of dilution I suspect. It relies on a lot of assumptions, both to the veracity of the claim and to the type of drill program they will require. I have been involved with several development mines and to prove this type of resource you will need a very extensive drill program. These programs are expensive. Add to that that the deposit is, I believe, located in a relatively inaccessible region and you may be talking significant infrastructure costs. I have in my mind a starting cost for such a program will as a minimum of $5-10 million. It could be more. This is of course just my opinion but it is seasoned with a little experience. Add to that my feeling that the stock will not stage any significant advance until there are proven numbers you will get my opinion that the financing will be at this price or lower. So do the math an you will see what kind of dilution I fear, and this is a conservative estimate. Of course this is just my opinion. re 9 yes there has been some bashing but I clearly recall some of the hyping that preceeded the resumption of trading. It was very reckless in my opinion and I fear that a number of people bought into that hype and now have very unattractive entry prices. I would be very interested in knowing who sold into the move. The thread might find that interesting as well. re your last comment So be cautious, what's the big deal here? You place a bet, or you don't. Anyone that bets more than they can afford is a fool. I agree. I wasn't really trying to make a big deal of the points. A previous poster specifically responded to me with a challenge to list 10 reasons not to buy MINE. I simply responded. I do not wish any of you ill. I hope you all make a lot of money on MINE. I just responded by posting what I thought were the reasons to not buy. Henry

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