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

To: steadyasyougo who wrote (30302)	1/7/2003 7:49:45 PM
From: Fred C. Dobbs	Read Replies (2) \| Respond to of 34075

Hi gerald, Got this news letter today. Everyone has probably received it but just in case they didn't; Oh, did you find my $999,000,000 yet? The Catalyst Newsletter - V1 # 23 – Golden Eagle Update As readers of previous Catalysts may know, Golden Eagle International, Inc. is a mining company with unusually large properties, resources and reserves. It is currently in the process of building out and ramping up its first-phase mill on its property in Cangalli, Bolivia in the historic Tipuani Gold District. Results from initial operations of the mill have been very encouraging, as the mill is producing almost twice as much gold per tonne as the Company’s projections called for. The Cangalli property is 74,000 acres of land situated on an enormous paleochannel – an ancient riverbed that contains finely disseminated gold in a placer-like deposit that is as deep as the Grand Canyon in places and as big as Manhattan Island. The results of seven separate engineering studies have culminated in Golden Eagle’s assertion that they have 6.4 million ounces in an “estimated reserve”, 81 million ounces in an indicated resource, and 162 million ounces in an inferred resource. If Golden Eagle has what it says it has, it may have the largest known deposit of gold in the world. However, Golden Eagle does not claim or report any reserves pursuant to Guide 7 of the SEC Regulations. That’s because this is a placer-like deposit and not a typical hard-rock mining deposit. Golden Eagle’s deposit is finely disseminated and erratic and therefore difficult to prove out by the conventional means applied to hard-rock deposits, which is to drill many holes and construct a model of the deposit from drill core analysis. That method is what the SEC guidelines are based upon. The correct method of proving up Golden Eagle’s kind of deposit is through massive bulk sampling, and the Company has done just that. We believe the significance of the recent preliminary figures of gold production from Golden Eagle’s first-phase mill is that it is proving the company’s assertions that the deposit can be mined at rates of recovery that will eventually prove very profitable. The figures from the Cangalli mine indicate that the company is recovering a little over half a gram of gold per tonne of ore. The company projects that at this rate of recovery of gold, cash costs will be $75 an ounce or less once a second, larger mill is built in the New Year and economies of scale take over. How can recovery of half a gram per tonne be so economical? The answer lies in a combination of factors: The company’s innovative mill plan results in high rates of gold recovery. The ore does not require crushing, grinding or scrubbing. It comes apart with the introduction of water, and so is economical to process. The mining method is a very efficient form of block caving called ‘conal subsidence’. An adit (horizontal shaft) is cut under the ore and the ore is collapsed into holding points, where it is collected and moved to the mill. The entire operation will be electrified as management lobbied Bolivia to run high-tension wires over the length of the property, and succeeded. Electricity is now very cheap in Cangalli. Electrically powered conveyor belts will be used for transporting ore. They are far more efficient than diesel trucks. Local Bolivian miners are experienced and competent, and their labor is inexpensive. If Golden Eagle has what they say they have and can do what they say they can do this company is an outstanding investment opportunity. That’s because while the Company is now establishing their rate of recovery and will soon be establishing their costs of production, they are also gaining credibility in their entire project, which is eventually projected to involve the building of 10-20 additional mills modeled on their second-phase mill. And the more ore they process, the more they will confirm in the eyes of the market that their method of proving up the deposit is correct. One additional fact: the Cangalli site is known to contain “pay streaks” of higher grade ore, but the Company has not yet put any of this material through the mill and it has not included this ore in its calculations. In addition to doubling its projected grade of gold, Golden Eagle may have some pleasant surprises in store for its shareholders. Due diligence in this company is rewarded by the discovery of a consistent, well-disclosed story of patient development. The corporate website is at www.geii.com. A corporate profile is available at www.alliancecorp.ws. Alliance Corporate Services represents Golden Eagle International, Inc. in Investor Relations. We thought that because of your interest in this company you would like to see this issue of our newsletter, originally published on December 5, 2002. You are not subscribed to this newsletter, but we would like to send you additional information on Golden Eagle as it appears. If you would like to be removed from our Golden Eagle mailing list, please reply to this email with the word "remove" in the subject line. If you would like to subscribe to our newsletter, please reply to this email with the word "subscribe" in the subject line. You can view past issues of The Catalyst at www.alliancecorp.ws. Alliance Corporate Services intends The Catalyst to be informative, attractive and occasionally provocative. Don't miss an issue! Please be sure to pass this email on to a friend and invite them to join our free subscription list. Readers are advised that the Catalyst is classified as an advertisement. It is issued solely for advertising and informational purposes and is not to be construed as investment advice nor an offer to sell or a solicitation to buy securities. The reader should verify all claims and conduct independent due diligence before investing in any securities mentioned. Investing in securities is speculative and carries a high degree of risk. Alliance Corporate Services and their officers and employees may buy or sell shares of the securities of their clients from time to time. All information contained in this publication concerning a client is provided by the client. Alliance Corporate Services and any affiliates make no implied or express warranties on the information provided. For complete disclosure, go to alliancecorp.ws Alliance Corporate Services Inc. Phone: (250) 380-2274 Fax: (250) 380-2275 mailto:info@alliancecorp.ws alliancecorp.ws