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

To: Fund Manager who wrote (8530)	7/8/1998 9:42:00 AM
From: the Chief	Read Replies (1) \| Respond to of 34075

HI Fund manager. You are mixing two hypotheticals. You don't assign multiples when the object of the game is to sell the property. The $25.00 was an estimate what a company would pay per ounce in the ground. $25.00 is what has been paid recently, however, some projects have sold at $5.00 per ounce. IF and I stress IF the gold is there, then $25.00 would be a lowball of its value per ounce. I'm not talking about the 6.4mm ozs, I'm talking about the "stupid number". Extraction costs, multiples, cash cost per ounce, production costs can only be attached to the hypothetical that they will retain the property and mine it themselves. So you are talking apples and others are talking oranges at the moment. A JV if it were to ocurr would result in GE being a minority sahreholder in Cangalli. the Chief