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

To: rjbac who wrote (12120)	8/8/1998 6:28:00 PM
From: SteveWW	Read Replies (1) \| Respond to of 34075

rbac I dont think there is a question that gold is there (history has shown that), the question is IS IT ECONOMICAL TO REMOVE. As for your comment "Barrick or Newmont would be a partner by now". For one thing, how do you know that a major is not part of all this with GE. Especially since DB has been brought in as the 3rd party. I am not saying that they are, but if I was a major, until the 3rd party is complete, would I want to stick my neck out like Freeport did at Bre-X. I think not. Until economical viablility is PROVEN then I would stay in the background. As for me, the 157,000,000 + inferred resources is nice but my only concern right now is the 6,000,000 + proven reserves. That is still a world class find. It will all be in the economics. SWW

To: rjbac who wrote (12120)	8/8/1998 9:45:00 PM
From: Geita	Read Replies (1) \| Respond to of 34075

Dear rjbac, Under ordinary circumstances I would agree with your logic. But logic does not always prevail with junior mining stocks. <<If the gold was proven to be there, the company would have Barrick or Newmont as a partner, and the stock price would be higher ever after>> Are you familiar with the Aldeberan claim in Chile? It has 17MM ozs. of gold and 20 billion pounds of copper. Arizona Star Resources had the strike and the numbers were put forth by BEMA. Placer Dome came in and bought 51%, put 10MM cash into the coffers of BGO and AZS.V, and guaranteed to invest 1.25 billion into the property. Placer Dome found even more gold in their drillings. BGO and AZS.V have done nothing but drop in price! How much did they drop? From $8 to $1. These 2 companies met your criteria and have been lower ever after. If any lesson can be derived from this example it would seem to be a buyout is better than a JV. Bill Leahy