Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: Douglas Lapp who wrote (21433)	2/19/2000 6:31:00 PM
From: GC	Read Replies (2) \| Respond to of 34075

how much more ,do they have to do to convince the uncertain ,lets get on with producing gold #'s when is the shareholders meeting if this find was in Canada or the US ,everybody would be beating their meat,because its in Bolivia ,they have to go through the ringer. court case says it all , lets get on with future plans of this company = trading , first step

To: Douglas Lapp who wrote (21433)	2/20/2000 12:28:00 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 34075

<<and experienced mining men have said. Dr. Atwood says the only way to prove reserves is to actually produce, any calculation is JUST an estimate.>> Well in the Cangalli deposit case, that may be the only thing to do. BD confirmed the difficulty and complexity as well the expensive nature of exploration works at Cangalli. If that is the only choice that is left to MYNG (to start mining without sufficient knowledge of the gold distributions and grades), the the problems here are several: 1) You must start with low scale mining since nobody will finance large operations withouth being sure of the quantity of metals that can be mined economically. 2) Growth through progressive and scaled mining of this nature is extremely difficult to achieve as you are always face with uncertainties since you are never sure where the gold is. All you have are estimates. 3) No senior will get in these kind of operations as they are too impredictable. 4) Since one can never be sure of the presence of those millions ounces, nobody will be willing to give the stock a real value that could refelect the size of the reserves. In other words, the stock will only carry a speculative value. <<"The SEC expert witness "admitted that there was no uniform definition of "resources" or "reserves" even among U.S. government agencies." So i must ask you to lead me to these "U.S. Mining standards,">> I agree with you that several definitions are used. But wat I was referring to are the standards use by US and other companies when they classify to resources and reserves. The specs are clear and well known. <<Do they cover deposits that cannot be drill sampled?>> There are very few deposits that can't be drilled one way or another. And there are other means that include channel and bulk sampling that can be used in the sample collection process. No matter how you go, the goal is to collect enough samples to reach a conclusion. If you don't collect enough samples, you end up with JUST an estimate and risk facing the problems above.

To: Douglas Lapp who wrote (21433)	2/20/2000 5:00:00 PM
From: John D. McClure	Read Replies (1) \| Respond to of 34075

Let me say that first of all, I cannot afford to retain a lawyer to sue the S.E.C. I wish I could. It is quite possible that if they had not done what they did vis-a-vis Golden Eagle, I would not have had to declare bankruptcy last year. If a class action suit does materialize because of this ruling, I would be interested in participating as I am still a shareholder. At the time I declared, my stock was worth so little that it easily met the Bankruptcy Law rules on exempt property (as in practically worthless). Anyway, any of you please send me a private message via S.I. if necessary. Thank you. I thank Terry Turner and company very much for their perseverance in this matter. Jed