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

To: JS who wrote (16255)	2/12/1999 8:10:00 PM
From: Cytotekk	Read Replies (1) \| Respond to of 34075

Good question, Joe. Colleen

To: JS who wrote (16255)	2/13/1999 12:32:00 AM
From: Claude Cormier	Read Replies (2) \| Respond to of 34075

Joe mon ami, Do you really belive that MINE has a) 6 m. proved b) 140 m. potential. Not a chance in the world as of we speak today. A) is impossible because they haven't done enough work to prove 6M ounces. I am not saying that there isn't 6M ounces on their property but they don't have it now...maybe after spending several more millions on the property. But lets spend the millions first. Keep in mind that mining companies spend between US$5 and US$10 per ounces in exploration work, before they can call their resource a proven reserve. That would come up to more than $30M for MINE.. B) 140M ounces...well who knows...but again I haven't read the technical data that would allow to conclude that 140M are inferred (which is the lowest category in resources classification). Again, what are the odds of discovering a deposit 3 times larger than the largest existing deposits... As for using the prices of $0.25 as a threshold to find other prospective companies... I suggest you use the market cap instead.. which is in the neighboorhood of US$25M or $C38M. Geeh! For $C38M you can get a lot of companies with quite a few million ounces drill indicated. Joe, it all comes to one issue. Credibility. When they said the above numbers...they lost it. I am watching and waiting for something more credible. CC