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

To: Mark Bartlett who wrote (2928)	5/22/1998 8:17:00 PM
From: Richard Mazzarella	Read Replies (4) \| Respond to of 34075

Mark, be very careful of this one. They never posted the average grade on the press release. However, they wheedle word themselves out of SEC trouble by sending the reader to: goldeneagle-mine.com . Notice that the average grade in that write-up is 1.499 g/m3. That is approximately 0.02 OPT which IMO borders on uneconomical with POG at $300. Maybe Claude will speak to this point. Until the company posts the proven grade, it's all speculation. As Claude suggests, the PR leaves knowledgeable goldbugs doubtful. Time will tell, but caution. Does anyone know why the PR wasn't picked up by Yahoo?

To: Mark Bartlett who wrote (2928)	5/22/1998 8:40:00 PM
From: Claude Cormier	Respond to of 34075

<< Well ... we certainly have an interesting situation here ..... considering some of the "fantasic" gold discoveries over the last few years .... like you, I'll wait to see more of the numbers >> Yep.... some plays are simply too big that caution is preferable. And if it is that big...I'll be happy to get in at a higher price when more info are available....I call this: Controlled greed!! <g> CC

To: Mark Bartlett who wrote (2928)	5/22/1998 10:34:00 PM
From: John D. McClure	Respond to of 34075

Hi Mark, I felt that after reading Richard's comments to you that this section of the Geologist's Report of January 1997 would help put things in context. It seems that the thrust of this section of the Report is that the Company should be going after ores that were previously discarded/overlooked because THAT is where the the bulk of the gold is. Quoting: "8. RESULTS 8.1. The results are shown on the laboratory certificates, (See, Attachment 3, Lab Assay Results), and the 16 tables accompanying this report. (See, Attachment 2, Mineral Sampling Results.) Column 3 of those mineral sampling results shows the gold grades in grams per cubic meter, separated in groups for the different sectors of the claims under the Company's subsidiary's control. These values were calculated in the usual way--from pan concentrate grades and their weights--together with the weights of the field samples. A figure of 1.8 was used for the specific gravity of these field weights. The average gold grades for each sector vary from a minimum of approximately .100 g/m3 to approximately 6 g/m3, with an overall average of 1.499 g/m3. This grade is certainly good enough for massive types of mining, an open-pit techniques are highly recommended. 8.2. Up to this point standard methods were used to establish the grades resulting from the sampling program. However, a striking fact showed up in the sampling: the batea (conical pan) fine tailings (the under-sized fraction) assayed with an average gold grade of 27.068 g/m3, meaning that this is by far the richest fraction in the Cangalli deposits. Obviously, from ancient times through to the present mining operations, this fraction has always been ignored and discarded. A similar phenomenon happens with the rock samples (the over-sized fraction) -- with an average assay of 5.657 grams per cubic meter -- of course also traditionally being discarded. From the over-sized fraction, or rock samples, I have calculated a conservative grade of 2.419 g/m3 for the pan gross tailings. The results from the assays of the over and under-sized fraction, plus those for the pan concentrates previously calculated, are combined for the total average gold grades shown on the tables' column 4 (See, Attachment 2, Mineral Sampling Results). These total results run from an approximate low of 10 g/m3 to a high of 19 g/m3 with an average of 14.049 g/m3, which is very high for these types of gold deposits. It is my opinion that this may even increase once better sampling can be carried out on the over-sized fraction. In formulating a mine plan for the near-term, the first thing that becomes apparent is that these deposits can and must be worked by open-pit mining methods. The recovery of the "microscopic" gold has to be accomplished by agitated vat cyanide leaching techniques. I believe that very significant and far-reaching discoveries will be made in the remainder of the Cangalli gold deposits specifically, and the balance of the Tipuani River Basin deposits in general, as a result of this concept." End Quote I agree with Richard that one realize and appreciate the speculative nature of these companies. Investigate to one's satisfaction before investing. One should not invest in these companies unless one is prepared to lose their entire investment, of course. John