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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: Claude Cormier who wrote (16265)2/13/1999 9:41:00 AM
From: geoffreycs  Read Replies (5) of 34075
 
The problem with the credibility is not wheather gaint gold deposits exist on earth. They do. The problem is the geologic enviorment of GEs prospect does not host giant deposits. Placer deposits form by erosion of bedrock with gold concentrated in high energy enviorments and most of the rest washed away. By nature these high energy enviorments are limited in size. Other factors are the propensity of nature to disperse as well as concentrate and the size and quality of the source area.

Alot of gold has been mined from streams and rivers draining the eastern Andes. But 100,000 ounces in one place is a very big deposit for this enviorment. Most of the gold has come from the foot of the mountains. GEs prospect is up in the mountains. To form a large and rich deposit such as claimed by GE in hte enviorment in which it is located would require a very large and rich bedrock source. Only narrow veins exist in this heavily prospected area.. What I am saying is that even a 6 million ounce deposit which is economic to mine on GEs property makes no geologic sense.

It doesn't make social sense either. The Bolivian Indians are very efficent when it commes to gold. If the grade claimed by GE was there it would have been ripped out long ago.

I would question a companies market cap that is based on the fanciful claims of GE. If you have shares I woulkd get out while you can. BD started thir work last june. Why no results yet?
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