NOT GOOD AT ALL.
Message 5859315
By Form 8-Ks reporting events of July 7, 1998 and July 24, 1998, Golden Eagle International, Inc. reported concerns regarding the accuracy and completeness of an independent consultant's report prepared for Golden Eagle in May 1998, entitled "Technical Geological and Sampling Report: Resources and Reserves on the Gold Deposits at Cangalli, Bolivia" by Guido Paravicini, M.A., Eng. As a result of subsequent internal review of the Paravicini report,
management of Golden Eagle has concluded that the techniques used by Mr. Paravicini were insufficient to justify the calculations made, and the term "reserves" may be an inaccurate characterization of the mineralization found on the Golden Eagle properties in the Cangalli district. Based on the information that Mr. Paravicini and others have developed regarding the Cangalli district in
general and the Company's properties in specific, management still believes that there is significant gold mineralization within the Company's properties.
As a result of the foregoing, the Company now has material reservations regarding the May 1998 report by its independent consultant, Mr. Paravicini. Management is continuing to analyze the Paravicini report and other available
information regarding the Cangalli property.
Mr Metals
|
