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

To: ge-believer who wrote (23507)	6/30/2001 1:08:04 PM
From: Digrdug	Read Replies (4) \| Respond to of 34075

WARNING TO POTENTIAL INVESTORS!!! I was the CEO of a small gold company and we spent three years trying to find a profitable gold mine in the North Yungas area of Bolivia. A good place to start for GE newbies, see: ragingbull.com This gives a summary of the positions of some of the players and the ongoing soap opera! Another intersting one! ragingbull.altavista.com Some Facts about Golden Eagle International: - over 182 million shares out. - over 15 million dollars in accumulated deficit. - A recent 10 k: Net Loss $1,817,041, Exploration $156,376, - Over 5 MILLION dollars of debt - About one million dollars out in convertible debentures that may be floorless in the conversion price. - Some old equipment is virtually the only assets. - GE has the rights to a placer gold concession in Bolivia, called Cangalli, at an 18% royalty rate, which is considered high in mining circles. - GE also has the rights to another placer concession, royalty free however no testing has been announced on this property. - GE announced recently that they have issued 10 milion shares for the rights to a hard rock concession near Santa Cruz. - GE issued a news release in 1998 claiming a very large gold resource. - The SEC filed a complaint of securities fraud against GE and some officers. - GE then filed an 8k clearly stating that there are no documented gold reserves at Cangalli. - GE and the former officers settled the complaint. - Terry Turner, the current president, was absolved because he was “reasonable” in trusting a geologist’s report. - GE has made various attempts to extract gold and has failed to get any profitable production. - There has been much discussion about bulk sampling and/or pilot production but they have consistently failed to perform controlled bulk samples to prove up economical gold. - Posters have been claiming that GE will bulk sample or start production for over three years but there has been no news of equipment purchases or financing. It is my opinion that this company will never have a profitable gold mine.