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Gold/Mining/Energy : Sun River Mining (SUNR) -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (40)	9/28/1998 3:13:00 PM
From: Mr Metals	Respond to of 1650

NOT GOOD AT ALL. Message 5859315 By Form 8-Ks reporting events of July 7, 1998 and July 24, 1998, Golden Eagle International, Inc. reported concerns regarding the accuracy and completeness of an independent consultant's report prepared for Golden Eagle in May 1998, entitled "Technical Geological and Sampling Report: Resources and Reserves on the Gold Deposits at Cangalli, Bolivia" by Guido Paravicini, M.A., Eng. As a result of subsequent internal review of the Paravicini report, management of Golden Eagle has concluded that the techniques used by Mr. Paravicini were insufficient to justify the calculations made, and the term "reserves" may be an inaccurate characterization of the mineralization found on the Golden Eagle properties in the Cangalli district. Based on the information that Mr. Paravicini and others have developed regarding the Cangalli district in general and the Company's properties in specific, management still believes that there is significant gold mineralization within the Company's properties. As a result of the foregoing, the Company now has material reservations regarding the May 1998 report by its independent consultant, Mr. Paravicini. Management is continuing to analyze the Paravicini report and other available information regarding the Cangalli property. Mr Metals

To: CIMA who wrote (40)	9/28/1998 6:38:00 PM
From: Mr Metals	Read Replies (1) \| Respond to of 1650

By: gold_sage Reply To #82 by BullionBill Monday, 28 Sep 1998 , 4:11 PM EDT Post # of 86 Bullion Bill, Yep, you called the MINE implosion right on the nose. The news in their 8-K is just terrbile: the gold reserves cannot be substantiated, audited financials not yet ready, etc., etc. In light of what's happened to MINE, I would like to ask everyone on this thread be calm and rational about Sun River Mining and their Bolivian properties and give management some time to respond to the questions raised on te threads over the past few weeks. Please - lets not rush to judgement until all the facts are on the table. From my postings, you know that I've got a whole bunch of questions about SUNR's gold reserves + resources @ the Tipuani & Kaka Rivers, and I'm stiill doing DD to see if and when my group will take position in the stock. However, let's not lose sight of one huge diference between SUNR and MINE - the reputation of who reported the ore reserves + resources. I may have my differences over the WGM report, but it's important for everyone to remember that WGM is one of the world's best when it comes to calculating ore reserves. If they say that the gold is there, you can take that to the bank. Though I may quibble over terms and definitions, I don't doubt for a minute that there is gold at the Lower Tipuani & Kaka River projects. For SUNR, the big question we should be asking is, how profitable are these projects at US$300 gold? How much will it cost to acquire the concessions? What are the production royalties? Can the mines be built and operated for the costs cited in the WGM report? SUNR is not MINE. I'm comfortable that there is gold on the Tipuani & Kaka Rivers because WGM says so. Now, it's a matter of can the engineers and businessmen turn these alluvials into profitable gold mines. In closing, I ask that all of us take a deep breath and not rush to judgement until we've all done our DD on this deal. I'd hate to see a replay of Indonesia, where so many good exploration firms and promising were unfairly penalized by the actions of one rouge company. gold_sage Mr Metals