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

To: Ironyman who wrote (14954)	11/24/1998 8:12:00 AM
From: Michel Grenier	Read Replies (1) \| Respond to of 34075

Hi, eric. As a thought, the more bad news come out, the more it looks like state lottery. Although winnings could be big, the chances of having a winning ticket are so low that the ticket's price is higher than its winning expectancy, making the whole thing a loosing proposition. However, if you are lucky enough to have free shares, equivalent to a free ticket, then it might be worth hanging to it, just in case. I find it hard to believe that anyone would join GE at this stage. In May, they had supposedly over 6M ounces in proven reserves. Then, it appeared that Guido's work could not justify those numbers. After the first field work by BD, they had "significant" gold mineralization, a few days later the word significant is striken out. Why? Because they do not have the numbers to back up the "significant" claim. It does not mean that they do not have huge reserves, but it does mean that nobody has proved it yet. No one will join them until there are proven reserves, and it looks unlikely that GE will find the financing to get to that stage of the game. Now, one thing is making me mad. In the post Bre-X environment, how could anyone be stupid enough to announce a huge find without all the evidence to back those claims up? It is one of the reasons I believed the May 22 press release, figuring that if they were bold enough to make those statements, they must have had rock solid evidence of it. Well, they were stupid enough to make unsubstantiated claims and now no major will take the chance of any type of deal with them, either JV or a buyout. Glad I am now holding free shares, Michel

To: Ironyman who wrote (14954)	11/24/1998 10:05:00 AM
From: John	Read Replies (1) \| Respond to of 34075

Eric, you may be right. But seeing as though it's a gamble already, I'm gonna bite the bullet and take the 30 day gamble. I'll sell the stock at a loss now and hope it doesn't make a move before 30 days, at which point I'll reinvest. Time to look at taxes, you know.......