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: MoneyMade who wrote (9498)	7/12/1998 3:38:00 PM
From: C Hudson	Read Replies (1) \| Respond to of 34075

Money Made, Thanks for that excellent post. I assume it's from the "other" MINE thread on ragingbull.com That poster seems to have much knowledge. It clears up some things for me. A critical point with many is the type of sampling done (no drilling) and how Guido could come up with proven reserves in that high amount. I think that post explains that very well. IMHO, that is one of most informative posts I've read. I wish he posted here. I wonder what Claude thinks?

To: MoneyMade who wrote (9498)	7/12/1998 5:17:00 PM
From: Bill Peterson	Read Replies (1) \| Respond to of 34075

The odds Question: What are the odds of making money here? The answers have ranged from 50/50 to one in 100 Short term: The odds of making money buying the stock here are 50/50. One could just look at the trading range over the last week to conclude that. Also, news of any substance is not expected for several weeks. SEC rumblings or third party rumblings could cause swings either way, but probably within the trading range of 25 cents to a dollar. As many have noted here, however, trading on the pinks is treacherous. It's like gulping down a big spoonful of Hot Bolivian Chile for the first time. You could get burned. Long Term: There are as many questions as answers here. As much fact as fiction. We can be certain of the most important element in investing in a Gold Mining property: History of production, 32,000,000 ounces since pre Inca civilization. We also know, if for no other reason, because of the crude methods of extraction, there is a lot of gold left in Cangalli. And, most likely, Guido's estimates of proven are within acceptable parameters. Inferred reserves may be better left to later confirmation, possibly after some production has begun. Here it may be advisable to place a few crackers next to your bowl of Chile. The big question here is the ability of Golden Eagle to extract the gold, thru partners or through raising enough money for this very capital-intensive enterprise. And within that question lies the third element : the cost of production. And therein lurks the final variable, the market price of Gold over the period of time it takes to extract those millions of ounces of the beautiful yellow metal. It is too early for me to conclude with certainty that the management of GE can execute. I'm not even sure of their plan as far as JV or raising their own capital. They have a lot of bullets to dodge from the muchachos of the SEC etc before they can relax and sit down to a hot meal at the foothills of the Bolivian Sierra Madres. But, I'm in, regardless. Have cast my lot with the Treasure Seekers. One closing thought. Instead of raising cash for a hike thru the Tupuani Valley, how about a call for volunteers to ride into camp, and help out. We could use a lawyer, an accountant, an auditor for sure to get the SEC muchachos off our backs. Maybe even a professional IR gunfighter to give us a little cover. Poor Sabrina is having one hell-of-a-time trying to run the General store, the Post-Office, the Boarding House and the telegraph office all by herself. And if the Sheriff is gonna be outta town, she's gotta dodge bullets too.