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

To: steadyasyougo who wrote (30572)	2/22/2003 2:35:06 PM
From: steadyasyougo	Respond to of 34075

Hey, LotsMoney on RB has a similar viewpoint. Focus on future value, not on current share price. He feels that those focusing on current share price are just a distraction. ragingbull.lycos.com

To: steadyasyougo who wrote (30572)	2/22/2003 3:50:05 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 34075

Gerald, <CC:"I will point to you that I never suggested that MYNG had no value and should be a $0.01 stock.". My gosh, Claude, you did that very suggestion, which started this whole discussion! >> Can we say that you are really looking for the grain of salt? Have I said that GE has no gold and has not proved that it can produce gold and sell it. No. So obviously this is some sort of value. They are on a trend to have some sort of positive cash flows. This has also some value. GE has a property where there is gold, as said earlier this has some value. GE has also some equipment, that is value. This should be balanced against the negative balance sheet. Still I can come up with some value... But the $72M market cap MYNG currently has or $120 million it had a few weeks ago is more than "some value". <Future "value" is what I am basing my opinion on, with dozens and dozens of hours of reviewing everything I can find on the property and the company.> Why MYNG has not been able to borrow $5 or $10 millions against this future value instead of diluting its shareholders at .03 or .07? All other miners finance production from a mix of equity issue and bank financing with bank financing being the prefered option. Can we say that there is not yet a major proven asset (value) that can be uses to back up major financing? Sure banks will eventually provide major financing to MYNG if such is MYNG desire. But can we agree that MYNG will need to have either proven reserves and a positive feasibility study in hand or meaningful cash flows for that to happen. Because that is how value is established in the mining sector. In short, MYNG has elected to build cash flows progressively, ounce after ounce, plant after plant. It should be valued on that basis. And it takes time to prove value with this approach. One need to see constant and regular progress. Exactly what Myng has been showing in recent months. But we need a lot more than that. Let talk again in 3-6 months. Maybe I will be buying then.