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

To: CIMA who wrote (976)	3/10/1998 3:05:00 PM
From: Michel Grenier	Read Replies (2) \| Respond to of 34075

Hi. That is true that this stock appears terribly undervalued at first glance. However, the cost per ounce ($170) is related to the concentration. It takes into account the overall size of the deposit and its distribution. As I said before, I would rather have cost per cubic meter of material extracted and treated. If, let us say, the final estimate is around 60M ounces instead of 170M ounces, the cost per ounce would move to around $500 per ounce, which is unprofitable. Of course that is unrealistic, because we already know from the existing report that concentrations vary widely, so that some areas would remain exploitable. However, this could mean that the actual proven reserves (economically exploitable) would be much lower than the said 60M. There is a lot of uncertainty, hence the low price. When the next geological report comes out, it will be boom or bust for this stock, IMHO. Michel

To: CIMA who wrote (976)	3/10/1998 7:58:00 PM
From: bobby beara	Respond to of 34075

Hi CIMA, >>> Something is terribly out-of-whack with this story. When will the market get it straight? I don't think it's us.<<< It's not -vbg-, the bad news: penny mining stocks have a giant Bre-x hangover to go along with the investments communities disdain for Gold as the recent Death of Gold story published (funny there was a Death of Equities story published in 1982 which started the bull-g-) (all this spells opportunity for us -g-) the good news: MINE has been under heavy accumulation as noted by the On balance volume, has double bottomed at .05 and the chart looked at some perspectives looks like it's sitting on top of an inverted head & shoulders pattern. If you look closely at the chart, it has been riding a nice trendline upwards other than one friday when it dipped to .05 (I'll call that an anomoly) more good gold news: the XAU is breaking out topside of an indecision pattern triangle (check out CDE and TVX charts especially) and many times XAU leads gold. Silver has double bottomed hard off 6.00. AG has the dollar presses running overtime, the economy is hot and inflation ain't far down the road. here is the best MINE news: after the recent news about the mining accident in Bolivia, MINE sent out an expedient press release to shareholders - hows about that - they care about there shareholders! and hows about this they care about the community and are providing community service in the form of equipment and manpower to solve El Nino related flooding problems. Make mine MINE! bb