To: The Fix who wrote (8996 ) 7/9/1998 10:09:00 AM From: Probart Read Replies (2) | Respond to of 34075
Golden Eagle Warns Investors to Be 'Cautious' Denver, July 8 (Bloomberg) -- Golden Eagle International Inc. resumed trading yesterday with five-times normal volume after a 10-day suspension, leading Chief Executive Terry Turner to warn investors to be ''extremely cautious'' and describing the company as ''essentially underfunded,'' USA Today reported. Turner also said in a Securities and Exchange Commission filing that authorities may amend a pending lawsuit against Golden Eagle for fraudulently hyping its stock in 1994 and 1996 to include additional fraud charges based on the company's May 22 report of a huge gold find in Bolivia. The SEC filing also said Golden Eagle's still trying to hire a U.S. mining consultant to confirm the gold find and has suspended mining operations, the paper reported. Golden Eagle spokesman Guy Murrel said the company is ''close'' to an agreement with a major mining and engineering firm to confirm the find. (USA 7/8 1B www.usatoday.com) 16:15:52 07/08/1998 Any redistribution of Bloomberg content, including by framing or similiar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1998 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P.