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

To: Claude Cormier who wrote (30565)	2/22/2003 9:39:57 AM
From: steadyasyougo	Read Replies (1) \| Respond to of 34075

Hi, Doug and Claude. It is interesting how slow progress lulls one to sleep. Using a stockholder friend's private spreadsheet, he calculates the cumulative production figures for GE. This is unofficial, but reasonably accurate. At the end of January, GE processed a total of 133,000 tons of ore. Over 1900 ozs of gold, at gross of $655,000, average grade of 0.45 gpt. No, no profit at this point. With just 20 days or so of operating in Feb (Doug, wake up! we're there already), and assumed 0.8 gpt inside the mountain, we will surpass $1M in gross revenue. Ain't bad for pilot operations. And, if we are at 0.4 gpt still, we will reach the $1M in 40 days, so early to mid March. I have heard comments that we may not have got into a venero yet. I am always optimistic, and I look forward to the near future announcement that we have reached the $1M milestone. This will keep happening. 3500 tpd, operating at a profit. Then, build and start operating a 11,000 tpd plant, producing 40,000 to 100,000 ozs per year. Ho hum. Then, two plants, then...... somewhere in there we will surpass Glamis Gold's 250,000 ozs per year production. Then, .......ho hum....... up there with the Newmonts of the world. Ho hum. Terry is the president of the largest gold mining company in the world. Ho hum. Four years maybe. JMO. Remember, this is pure hype on my part, based on what has happened, what is happening, and what one could reasonably hope will happen in the future. Wait, I think I get to count the over 2000 ozs of gold we have produced so far as "reserves"? Maybe only 80% hype? Claude, you stay out of this one! Doug and I have plans for more of this cheap price. Lots more. Unfortunately, I'm afraid when we operate at a profit at 3500 tpd in a couple of months, someone is going to tell everyone. Darn it! Doug, you better make your move. LOL! gerald