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

To: Henry Volquardsen who wrote (4415)	6/6/1998 2:49:00 PM
From: Jim Bishop	Read Replies (1) \| Respond to of 34075

Correct me if I am wrong here, but why should GE pay for third party verification? Why not let an interested JV partner be on the hook for that. If GE know the gold is there, they know it's there, let the other guys pay for the proof they need. To my mind, management should be much more concerned about other things than the current share price.

To: Henry Volquardsen who wrote (4415)	6/6/1998 3:32:00 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 34075

<< IMO they will need to do third party verification even if they want to go the JV route. No major is going to get involved in a development stage project, no matter how large it is reputed to be, based on internally prepared studies. That is exactly what happened in Bre-X. They will require audited third party verification.>> Well BXM case, you should remember that Barrick and other suitors including Freeport did their on audit before Strathcona came in. If a JV is in preparation, you can be sure that the contenders will be on the ground sampling for themselves. And this will be enough to kick in the JV is their DD is successful. Neither MINE nor the senior partner will need a 3rd party if this is the route MINE is pursuing. If they are not successful in attracting a senior to look into a possible JV, then they will need 3rd party audit. But that could well mean that they don't have that huge resource in the first place. At this stage of the game, I don't know of any senior partner that would bypass the opportunity to take a very close look at a junior who says it has 6M proven, 75M indicated and 150M inferred. CC