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

To: GC who wrote (8885)	7/8/1998 11:07:00 PM
From: dead bull	Read Replies (1) \| Respond to of 34075

Does anybody know how many shares are outstanding for MINE? Thanks.

To: GC who wrote (8885)	7/8/1998 11:18:00 PM
From: Claude Cormier	Respond to of 34075

GC, It is hard to say how many samples are needed to prove up a given number of ounces at a given depsoit. There are many factors. Just to give you an example (among dozens I could give you), Sunshine Mining (NYSE:SSC) recently announced results on its Pirquitas deposit in Brazil, they have up to 72 million ounces of SILVER up there (keep in mind that silver concentration is as much as 10 times higher than gold, so it takes 10 times less samples to prove up the ounces). Sunshine current program includes the collection and assaying of more than 40,000 samples. Remember this 72M ounces silver deposit is at a higher grade of 8-10 ounces of silver per ton...or several times the average grades (14g/t or 0.4opt gold) mentioned by MINE at Cangalli. The total volume (and tonnage) to sample and assay is much smaller at Pirquitas (by a factor 10 at least)...and still they will be up to more than 40,000 samples. ANd it is like that for all the exploration programs I have studied. Why would it be different for Cangalli ? I will agree with you that the number of samples required will vary from deposit to deposit...but by 50 to 1. BTW, I don't read where the SEC has said between 5000 and 10000 samples would be needed.