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

To: ubetcha who wrote (30646)	2/26/2003 12:22:02 PM
From: steadyasyougo	Read Replies (3) \| Respond to of 34075

Good morning, Terry. Claude suggested that he and I leave things where they are and discuss them again in 3-6 months. I agreed with that. We were talking about whether or not it was reasonable to limit current stock value to only proven reserves and positive cash flow from operations. Or, is there the flexible area about how much additional current stock price can be reasonable based on judgement of potential value? And potential is based on each person's opinion of a list of criteria that are reasonable to use. The second area, potential value, opens a can of worms. And, since MYNG has none of the first, it becomes what degree of potential value is reasonable to allow MYNG now. And how much will be "allowed" when we are running 3500 tpd with positive cash flow, and how much will be allowed when running 11,000 tpd with positive cash flow, and all the way to 10 plants, 20 plants, 50 plants, on and on. Thus, it is all in the can of worms. I say a lot, Claude says a tidbit, or least somewhat below where the stock price was at $0.18. All you guys can debate, but it is just a matter of opinion, some have conservative opinions and some have more liberal opinions. So, no consensus can be reached. Claude is right. It is just as well that you guys also wait 3-6 months to debate this again. We all know we are spinning our wheels. That said, I have received and read a lot of comments saying the debate on SI was interesting. Some are saying SI is the best thread now. LOL. gerald

To: ubetcha who wrote (30646)	2/26/2003 5:36:32 PM
From: steadyasyougo	Read Replies (2) \| Respond to of 34075

Terry, you said: "Stay with this thread, as we are all continuing to learn." I believe that 110%! Help me learn how to figure something out. A few questions as a "setup". Would you feel Terry Turner, as well as his team, would know the SEC guidelines for claiming resources and reserves? In view of the trial, they and their counsel would know better than most? Wouldn't it be a reasonable assumption that the SEC guy they beat at trial would like nothing better than have a second shot at Terry? If GE claims reserves, they would be taking one step forward, taking resources and turning them into reserves by proving the resources can be produced at a reasonable profit? So, let's review Terry's interview with Europeanalyst.com in the fall. The link is on the company website. This is not verbatim, but close. Terry said we had a huge, huge "resource", over 100M ozs. There were two reports showing 5.1M and 6.4M ozs of "proven reserves". (GN comment: these people sincerely believed and still believe that the gold could be produced economically, they did their own feasibility study. Undoubtedly, not a feasibility study by SEC guidelines?. I really don't know the answer to that question). Regardless, Terry said we can't claim these as proven reserves by SEC guidelines, because the SEC requires that we show economic viability. But, when we run for several months at a profit, thus showing economic viability, Terry said he is going to allow our geologists to claim proven reserves! Remember, he is no novice when it comes to SEC requirements! So, what does he know? Big point. He didn't say how much he is going to let them claim. I wait anxiously to see. He didn't say he would count the months that we possibly run at 3500 tpd profitably. He may mean that we will run several months at 11,000 tpd before our geologists claim proven reserves. Interesting, huh? Will answer phone. More later. gerald