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: rjbac who wrote (12120)	8/8/1998 9:45:00 PM
From: Geita	Read Replies (1) of 34075

Dear rjbac, Under ordinary circumstances I would agree with your logic. But logic does not always prevail with junior mining stocks. <<If the gold was proven to be there, the company would have Barrick or Newmont as a partner, and the stock price would be higher ever after>> Are you familiar with the Aldeberan claim in Chile? It has 17MM ozs. of gold and 20 billion pounds of copper. Arizona Star Resources had the strike and the numbers were put forth by BEMA. Placer Dome came in and bought 51%, put 10MM cash into the coffers of BGO and AZS.V, and guaranteed to invest 1.25 billion into the property. Placer Dome found even more gold in their drillings. BGO and AZS.V have done nothing but drop in price! How much did they drop? From $8 to $1. These 2 companies met your criteria and have been lower ever after. If any lesson can be derived from this example it would seem to be a buyout is better than a JV. Bill Leahy

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