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: Cytotekk who wrote (5037)	6/13/1998 4:47:00 PM
From: Traveling Man	Read Replies (5) \| Respond to of 34075

Colleen, Look. The disagreement here is how does an investor like you&I reach a point of confidence that a resource is present. Do I know there aren't 6 million proven/probable? No, I do not. But, by standard procedures accepted in NA, GE doesn't have a p/p resource of 6 million near surface ozs. of Au. To me investing is like a criminal jury trial. The government has to prove me guilty, I don't have to prove I'm innocent(except to the IRS!). It is incumbent on GE to prove their case using accepted standards to receive institutional support or get a line of credit from a bank. My opinion(and that's all it is)is they haven't used those procedures yet,as delineated by CC. Therefore, they don't have a p/p resource.There may be a lot of Au there, but their actions cannot be construed as defining a p/p resource. This is why they will have no loans or JVs. I personally think IF they had a 6 million oz. p/p resource, Barrick would not consider it too risky to JV them. You know a major will take most the working interest, because GE will be bankrupt in the not too distant future and a major knows that. If the geology there supported GE's statements, majors and banks would be on them like white on rice. The way Guido arrived at his conclusions makes me seriously wonder about him. It may be his talent or character or maybe he has a crystal ball, not me. But, no one I have seen or heard that has CC's type knowledge thinks this is for real, based on what GE has done yet. I apologize if I was a jerk earlier as this is just IMO. And, for your sake I hope it turns out there was this Au there. I,also hope Au doesn't get to be as cheap as dirt before things get better! It's so soon after the KRY debacle that I got involved here and I am not a shareholder so I shouldn't have as I was not looking for answers to potentially invest with GE. TM