Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: CIMA who wrote (1441)	3/26/1998 11:12:00 AM
From: Claude Cormier	Read Replies (3) \| Respond to of 34075

<< Would you please post comments after reading it? Am particularly interested in the heap-leach plans from one of the ex-Newmont members of the Advisory Board. >> CIMA, this filing is most certainly the best geological piece on MINE's property. It is very clear and realistic. And it raises my case. It will take years to prove up those millions ounces of gold. Still, this doesn't mean that they don't exists and that MINE cannot start small scale operations and grow from there. But the work to be done that will justify large scale placer mining operation, is huge and will costs quite a bit of money. They still have to determine the best methods to recover the gold. The Cangalli deposit is very big, by the description I read, but nobody can confirm that there is gold everywhere and that it can be recovered economically. There are quite a few similar cases (well maybe the placers are not as big as this one) in this world. The Caroni river in Venezuella, the riverbeds of the Kasai river (and tributaries) in Congo...and others are all situations where the existence of millions ounces of gold (and diamonds) is admitted as possible by most geologists. I am sure the same is true at Cangalli. The problem has remained to prove the reserves therefore justifying large capital expenses. That is why you will find only small operations in these placers. I am not a geologist and don't know enough this type of mining and can't tell about the large placer operations that exists right now. But I am not aware of any major involved in this type of mining business...I am sure some are though. About the "cyanide dump leaching" proposed to recover the very fine gold...I guess it make sense. However I have read that new methods are now developed and being tested to recover fine particles including ALtair's centrifugal jigs. So only testing will allow them to define what works for the Cangalli deposit. Again, they must spend money on this. All this to say that MINE is an interesting situation to follow. The potential is indeed very large. However, it is a project in its infancy. It will take money and time to prove up that an economic operation can be developed. And it is unreasonable (for now) to talk about hundred millions ounces, stock prices of $1, $5 or more, and proven reserves of 5M-10 ounces in the near future. CC