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

To: Brian N L who wrote (1583)	3/29/1998 5:17:00 PM
From: Richard Mazzarella	Respond to of 34075

Brian, <<You just might be on to something.>> Long is a terrible thing to waste, so PMA. <VBG> Check out the past assays for this property. That's what you should expect IMO.

To: Brian N L who wrote (1583)	3/29/1998 10:57:00 PM
From: CIMA	Respond to of 34075

Hi Brian. The way I see it, people on this thread have described management as having three possible ways of releasing proven reserves. 1) As El Tiburon says, they could just blow everybody's mind and announce 75-100M ozs and invite market scrutiny. An independent third party would go to the property and authenticate the results. I and everyone involved would love this. We'd be millionaires. However, given the last release, it seems doubtful there is a proven resource anywhere close to that amount. It's doubtful GE could stand the scrutiny or would invite it at this point. 2) As I indicated earlier, a proven resource of 5-10M would make the market take notice, and combined with the probable and inferred, would result in a healthy rise in share price and provide financing opportunities to prove up the rest. I don't think they are in the position to prove up this much at this point either. 3) As Mr. Metals ( I believe ) indicated earlier, they will announce a proven resource of around 500,000 ozs, which is nothing spectacular for a placer-type play . I know of several companies that have similar or higher placer resources and the market yawns. If this is the amount to be announced as proven, it seems this wasn't ready to be announced either given the press release. I think they will be in the position to announce at least this much proven by the time of the next release. But I would have liked to see a larger proven number to attract more attention. But as Claude Cormier pointed out, it takes more time and money to prove larger resource numbers. IMO, if management is in the position to announce a higher proven resource figure then I think they should go for it rather than adopting a Bre-X style ratcheting up of the resource each month or two. But as I said, that's only possible if they can withstand the scrutiny. Otherwise, growing the resource in increments is the only way they can go as cashflow permits.