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

To: normy who wrote (12729)	9/2/1998 8:26:00 AM
From: the Chief	Read Replies (3) \| Respond to of 34075

Hi toma........ the rumour was that BD would be collecting a substantial number of new samples. i know, i know, who knows what they are doing, but for the sake of discussion...these samples will be used as a comparison set. if the average content is similar to what was previously calculated, even if the variability is greater, then they could conceivably mine, realizing that some loads would be high content and some low, but overall it is economical. if, however, the average content is significantly lower (and this will be statistically determined - these folks know their business) they will likely say it's too risky and will walk away. I agree. The only concern I have, is the same concerns everyone has with "placer deposits"! Random samples in a placer deposit may show up inconsistent values, if so, the "assumption" maybe that the continuity is not there! This is as dangerous assumption as assuming the continuity is there!! It is not foolish to assume that some samples may return high values (alluvial pools) and others will come out duds! The interpretation of those samples "to be fair" may require more samples! This then adds the spectre of "time"! if, however, the average content is significantly lower (and this will be statistically determined - these folks know their business) they will likely say it's too risky and will walk away. true, but this will prove little!! The immediate response for GE will be that, "sampling was 'too random' and was not carried out in a manner that represents the "unique geology" of the Cangalli"!!! GE would then produce a report by an "independant geologist" outlining the "inadequacies of the report" and terminate BD's contract and rehire another engineering firm!! So even if BD were to "walk" it would not be the end! been their, done that!! the Chief