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

To: john who wrote (6961)	6/29/1998 12:58:00 PM
From: RMF	Read Replies (1) \| Respond to of 34075

MINE first said they had over 100 milion ozs. BEFORE the Bre-X debacle and BEFORE gold tanked. Since the majors were fighting to get a piece of Bre-X, why is it that they didn't seem to show ANY interest in MINE. They didn't even bother to look at the property. Barrick wouldn't give a damn about the reputation of mgt. if they felt there was ANY chance of a gigantic deposit here. I believe the majors are familiar with placer deposits and they never seemed to want to become more familiar with this one. Why is that?

To: john who wrote (6961)	6/29/1998 1:24:00 PM
From: Tom Frederick	Read Replies (3) \| Respond to of 34075

John, This is really very a very simple issue. I will respond to you for one last time and then leave you to enjoy the group love in with GE. If what the Dr. reported was SO convincing, and PROVED complete independent work, why was the market reaction to the report of a huge deposit so muted? Why does the SEC need to halt trading? It is NOT because they are just so impressed, they need to give the market a chance to take its breath in awe of a stock ready to take off. The SEC is here only to try and protect investors and obviously they saw something they didn't like. I have followed a number of alluvial deposit mines but no Placer deposits. What type of deposit it is is of little importance. The issue is big money coming in and taking GE seriously. And THAT is based on complete start to finish work from independent drilling companies, third party bagging and marking of samples and a referee lab testing for opt result. This kind of work would definitely been done in English start to finish if it was truely independent done for the purpose of convincing a mostly U.S. audience of its validity. The market as a whole quite obviously does NOT believe the initial claim of "world's largest" otherwise the stock would have been rising through the roof when the SEC halted trading. But it was dropping off the latest high of .50, a somewhat less than impressive run on the great news. This thread is not very helpful for and extension on DD, other than for a few folks who are willing to look at this as either a home run or a bust. And the key to a healthy view of a junior exploration company is the ability to see that it MIGHT be a bust. You can HOPE for a home run, but at least look at the facts and realize you might have problems here. Like I said you are trying to prove what the mining world just got burned very badly on not long ago - A "worlds largest deposit" claim. GE will have an UNUSUALLY high level of burden of proof. Be ready for a long hard battle to prove the claim. Good luck and good bye. Tom