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

To: CIMA who wrote (13835)	10/4/1998 1:49:00 PM
From: Gord Bolton	Read Replies (3) \| Respond to of 34075

I am not a shareholder in MINE and I have not even been tempted to buy. But, no one can help but notice the amount of interest that there is in whatever is going on here. This thread is probably one of the most active threads on the board and one cannot help reading the posts that come in the New Replies. Many people have suggested that potential investors should ask some questions about this project before throwing their money into the MINE Lottery. I personally have no doubt that there is some gold in the Valley. And anyone can speculate about how much is there. I could easily suggest that there is a million tons of Gold in nearly any large river valley in Bolivia. The question is---Are there proven concentrations in a particular area that are proven through standard procedures that would justify commercial mining? And is all the paper work covered to the satisfaction of all the legal authorities who may have a say in the matter? And I would comment that if the Gold were there and proven, and if there were no legal snags, any company would have the paperwork done in a snap---no question. And they would be very carefull to understate the case to avoid any possible snags to immediate development and profits. One might also wonder about the political situation and the political implications of the Gold Mine in the local community and in the Country. I would make the following observations and I would invite comment. Mining is both big business in Bolivia and it is also true that the local people know a great deal about mining, mining resources and in particular mining alluvial deposits of Gold. Some people have commented that Gold has been mined in this valley for centuries and I understand that there are local mining co-operatives active in that valley. Bolivia is by our standards a very poor country and the standard of living is not great. If there were in fact 200,000,000 ounces of Gold sitting in the Valley in an alluvial deposit or even 5 or 1 million ounces there and available for the having, I would expect that the valley would be swarming with Bolivians with pan, pick, and shovel in hand and that no politician could hold them back. There would be a gold rush and God help the politician who gave it to a big Gringo company to haul away to the U.S.A. He would be eaten for breakfast and the the rush would continue. The very size of the deposit claimed by the company would make this a political rugby ball. Wars and revolutions have been fought over much less than this. And of course Bolivia is open for business and does want foreign investment to develop --hard to find and develop resources --but believe me, they do not need any help to develop a 200,000,000 ounce alluvial Gold deposit --of commercial value. If I "discovered" a very rich deposit of commercial value in such a situation, I would keep it very quiet until I had establish firm legal hold over the property in question. I would then invite in as few people as possible and get a small scale project going to generate revenue immediately. This would eliminate the need to solicite thousands of shareholders from all over who would share the profits. Small scale production from my rich deposit, and a balance sheet showing a nice profit would make any banker smile as he lent me whatever money I needed to expand production. In fact, many rich deposits are developed and mined before the public ever knows what is going on. Whatever wheels need greasing are well greased. I simply find it amazing that with regard to MINE as far as I can see the exact opposite is happening in all ways. All paperwork seems to be in question including whether there is in fact a commercially viable project there at all. It would definitely make me question exactly what is being MINED here. And they do not have to drill the whole valley. All they would have to do is drill one section, show credible results for that section and make a clear statement of exactly what they have verified and then start mining on a small scale. As the fantastic profits are generated they could spend part of them on proving up more reserves for expansion. And it is not that I am sceptical, it is just that if something is just too good to be true, it probably is not true. And if one carefully studied the strategy of the BRE-X boys one would realize just how easy it was to suck up $millions and $millions with the promise of an earth shattering Gold discovery. And even if MINE does not pan out---next year someone could just as easily claim to have found an even bigger motherload just down the street. Please send your money. Thank-you. Don't call us --we will call you--can't talk right now--News comming out soon--everything confidential---expecting a takeover soon--JV will be in place by Christmas---No that was the other Golden Eagle that was leading people down the path--no need to be concerned--Oopps we had a big flood in the valley and it washed away all the paperwork and it was just about done too---but look at that-- there is even more Gold here now. I think that I just saw a big nugget float by. I'll call you right back, I'm going to see if I can catch it for the shareholders. Talk to you later. Keep the faith. And I don't think that BRE-X was the first company to discover that mining the shareholders was easier than finding and developing the motherload. But of course, if you are a lottery player and are enjoying the game or if you are a fellow traveller, carry on. But do ask the questions.