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You are welcome. Actually I think I read it on the rules of engagement. Not sure where it is, if that is important, buzz off a memo to Matt to see where he put it.
Terry
Churak,
Did you not read Matt's post on why to always "respond" to someone even if your reply does not have anything to do with their response. If this thread is to teach, one must be a teacher that practices what he or she teaches.
Terry
Digger!
Boy is it nice to have the old digger back. How pleasant. It is just wunnerful. I actually had to give Matt money to let you know how grateful I was to see the old digger at work. What a friend we have in life! Back to winning friends and influencing people I see. Bet you were just as good at running a mine!
Terry
Sam,
You are welcome.
Terry
Glad to be of some assistance.
Terry
No, you would not! I was also answering a question to Sam. No offense meant. There were to many questions flying around about accounting. The record is now clear I think.
Terry
AKVetch,
The money received for the sale of capital stock goes on the balance sheet. It is free money for the short term. It dilutes the ownership of all the owners of stock. Nothing happens to the money until it is spent, and then it depends on where the money goes as to how it is treated. It could be expensed or amortized depending on whether the money was spent on an expense or on capital equipment. Mining accounting is not different that standard gaap (generally accepted accounting principles) methodology. There are things that they can do on the balance sheet due to the nature of what their property is worth. In some ways it can help them to write off assets faster. Other than that all else remains the same. There is no magic wand to be waved here.
Terry
If you respond nicely, he will quit responding. I tried both, and found out what worked. Digrdug is probably a very nice person, and could even have a lot to contribute. This said, he really gets offended easily, and strikes back at any quest for information with vengeance. Digrdug maintained his serenity a lot longer than I thought he would. Sometimes it is hard to change stripes. I know that he had a run in with the current GE elite, but I for one have only heard one side of this exchange. There are always two sides to any argument. Time will tell. Let us get on with the discussion.
Terry
Boy Digrdoug,
I am sure glad to hear that it was nothing that you did. It was someone else's fault. They were the ones that were taking advantage of you. Would it not be ironic if Myng failed? If a tree falls in the woods and no one is there, does it make a sound? You may not be around to find out. Better put a rubber band on that tongue so that you may have a chance to gloat. On the other hand, what if it GOES TO THE MOON? Then you will be glad that you are gone and not here to have to eat the last word.
GO MYNG!!!
Terry
It is sure nice to have the true digrdoug back. Let us see how many we can get ticked off this time. What a tangled web we create. Spiderman is back! I knew this movie would really start off with a bang, and certainly cannot get any worse. Off with the moderator's head. OH SORRY, I forgot, there is no moderator.
Terry
Well, I guess that it is now time to change the board info. Time to turn down the lights and let the show begin. It is bound to be a beaut.
Terry
Digrduog,
Well I see that you have gone back to the school of how to win friends and influence people. Your vocabulary has not even seen any improvements. I sure am in hopes that you can find a good instructor. Hopefully not one that see's things as ME ME ME ME Me Me Me Me-----stay out of my doukie!! Cannot we just all get along? Buddy can you borrow me a dime? I would call and see if I could offer any support to your alter ego.
It must be awful to live only in the confines of your own brainwaves and think that everyone is out to get you. Must be agressive in your replys!
QUIT TALKING ABOUT ME-----NOW NOW!!!
Digrdoug,
Could you please define the term "moron" for those of us that do not understand. Is this a word that means that they disagree with me, or does it have another meaning. I notice that you use it a lot, and would wish to make its meaning clear.
Thank You in advance for your response
Terry
Digrdoug,
Well, you are the moderator! When in doubt---just post to the moderator. That is the normal way. Looks like good news to me, but then I have never been down to the mine site, so probably this is just all a scam put out by those horrible people who are in charge of this Company. When the price goes back to .03 we will all understand!
Terry
Can GE obtain more gold from this deposit than has been obtained before? That is a very good question! This appears to be the the krux of the argument about what has gone on before, and what is going on now. Well let us go where no man has ever gone before!!!!!
http://www.knelson.com/technical/paper.palo?paperID=19
Will require a while to digest what is here, and one must have faith that GE has also read this article. Other than that---every man and woman for themselves.
Terry
To ALL:
Only one person saw that I added 2+2+5 and got 10! So why all the necessity of only showing exact math. When we talk of mines, it IS NOT an exace science. Same way in a lot of job types. I have seen some wild guesses on these threads, and some wild accusations. Let us all be exact! LOL
Terry
AK,
OK here it is:
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=18336940
Is it accurate? I do not know, but it is sure more fodder for the math experts. +-x&\+=more value for MYNG!
Terry
AKvetch,
Is it OK to post an address from SI or RB here. I think the answer is yes, buy wanted to make sure. Since I am free, cannot private message anyone.
Terry
AKvetch,
It was on the SI and also on one of the yahoo threads. I could not find support for it from the Company, but I used it only as an example of a math problem that could not be solved. I did post what their Company assayers had to say on another post here.
There was not enough information given. Since I am an engineer by trade, and an economist-accountant by education, I can add 2+2+5=10, so thought I would try to demonstrate that putting math and science into this stock has really been a wild goose chase. Until we start getting results in sold gold, what they are mining a week, and what their direct costs are, there are no equations that will work. These will probably not be out in the form of financial statements for a few quarters. All else is just idle chatter, but fun to surmise.
Terry
Marcos,
Now you see the problem. This stock and mine are all based on not really having an absolute value to do the fine tune calculations. The cost per ounce could be $75 per ounce, $200-$300-based on a lot of factors. There is no math that will make this mine work. Only mining will answer the questions. The real factor is whether or not they can recover the 90+% that they hope to get out of this dirt. The lower #'s that were done by DB did not capture the fines. Interesting thought. Still a chance for all shareholders. GO-GO or HIC-UP. Time will tell!
Terry
Marcos,
Me thinks that you need to puruse the GE website and other informational sources. All the archives are there. Here is one that talks about their sample analysis conducted by "BD". You will see who they are on this post.
http://www.geii.com/cgi-bin/gei.cgi?action=disp_sub&.page=pr_9906a
My quote came from a yahoo thread, and was only meant to get your math skills going at full speed.
Terry
Marcos,
Here is another one for your calculator!
"Guido's sampling of the first 50 sites of his 1998 study found the LOWEST grade to be .68gm/m3."
Now just how many ounces per ton does this yield?
What cost will it take to process a m3?
What will this do to the share price?
Inquiring minds want to know.
Terry
EricE,
"As for the production cost being "bogus"...Hmmm I think I will take the PhD's word for it rather than the internet posting of "opinions"."
I think I could agree with that statement.
The figure as I have stated before does seem a little low, but at even double or triple that cost, this mine could still be a winner. When you start moving large volumes, there is an economy of scale. They are the experts, not most of us on these threads.
Terry
AKvetch,
To answer your question, I clipped part of this article off their web site. Happy reading. Also some other "pro" GE articles.
"In its final phase, Golden Eagle plans to expand its Cueva Playa operation to 11,000 tons per day. Once this production level is reached, the Company projects that its cost per ounce of gold produced will be less than $75."
This can be found on their web site. The address for the article is: http://www.geii.com/cgi-bin/gei.cgi?action=disp_sub&.page=pr_0211a
Out of the mouths of babes. Here is another cut and paste:
(The math does not quite work out, but the final #'s are OK)
Yes, it is amazing how previous operators, including GE, operated without getting the fine gold in their hands.
I have been re-reading a lot of the published material and they state that as high as 90% of the gold was "lost". Numbers of 50-70% are common. So, the previous operators were throwing out the baby in the bath water!
No wonder people are puzzled why previous operators didn't recognize what the total gold resource was. "What you don't see is what you don't get".
BTW, if I am reading it right, the BD report explains that they only panned the samples to get an "indication" of the presence of gold, not to accurately quantify it. They were using a panning method to recover gold, to simulate what would be recovered using the old method of recovery, without any fine gold recovery. That is what is throwing people off that are looking at the BD analyses, and seeing that they were much lower, on average, than 0.5 gpt. I eyeballed the BD results, and saw where the average was going to be in the 0-0.25 range. Using 0.125 as the mid range number I multipled by 5.5 to get 0.69 total. The 5.5 comes from an average of using 50% (x 2) and 90% (x 9) losses. Of course, if you use x 4 (80% fiines losses) you get 0.5 gpt.
I read one incidence where someone treated the tailings in the lab and got 0.4 gpt. Throwing out the baby in the bath water, indeed!
Take the 0.5 gpt we are now getting, throw in some paystreak material every now and then, and we may get 0.7-0.8 gpt, just my opinion. We could get Rod Steel's "most likely" grade of 1.0 gpt. We shall see. The beauty of it is in a few months we will learn what grade we will average with our "big" 11,000 tpd plant. And, as Rod has postulated, these plants possibly could be modified and operated at double or triple that rate.
Now you know more than I do!
Terry
Marcos,
Threads like this are hard to converse on. The spit and snarl is what was happening on SI (now has calmed down) and then RB. Some of that going on here as well. I truly understand the problems with this mine, but with some luck and the right kind of technique, Myng could really go big time. What they really need would be to get a return in the range of 1-1/2 gpt. Then the costs could really come down. $75 sounds really cheap to me as well, but that is what they have told their shareholders. Maybe at the beginning this may be accurate. As time goes on they will have to move more dirt, and get higher grades. Then all will be OK!! This stock is still a crap shoot, but still better odds than a black jack table in Las Vegas. Hopefully here, the dealer is on our side.
Terry
Marcos,
I am not a miner, nor were those my comments.
What I see is that you have to process approximately 5 truck loads of earth for each ounce of gold. Yes that is a lot of dirt. What does it take if you are at the top of a cliff, and all you have to do is drop it, or let it fall? If all the luck is in your favor you can just let it fall into whatever separator you want and let it fall out the bottom. Depending on the circumstances, you could handle that much dirt many times a day in order to recover what ever you want inside! Maybe even gold. I have personally moved this much material (200,000 lbs.) in one day by myself with one helper. No diesel, just knowing how.
Since we have no pictures and no one here has made a trip down, we just have to either feel that it will work or feel that it will not. How about that for just my opinion! I do not personally think that anyone knows for sure whether or not this will go. The people on site think it will. You either believe or you do not. Everything else is just a cat fight. We can spit and snarl at each other all we want on threads like this, but that will not create one ounce of gold or put this Company into premature bankrupcy.
This stock will either go up or it will go down. Somewhere in the future all of us (if we are still here) will know which way it has gone. At that time the true carping can begin.
Terry
To All,
You have to have faith that what has been presented is true. Here is a partial post from another thread!
"They really don't know the details and they don't realize how simple the processing scheme is. Talking of $75 cost at a grade of 0.25 gpt just doesn't fit their paradigm. It is hard for folks, particularly old folks, to think "out of the box". Ron Atwood, Terry Turner and all the rest stay out of the box! And, because of that, history will be made.
Ron Atwood realized that it was going to take a low cost to make a decent profit, if the grade was only 0.25 gpt average. His conal subsidence scheme is brilliant. As luck would have it, the conglomerate flows real well, and this has already been proven. And, after he got the cost down, we are at double the average grade of 0.25 gpt, and we haven't included any of the known pay streaks yet. Another stoke of positive results.
Another stoke of luck was that the gold is free, it just needs to be washed off the rocks and out of the clay and recovered. And Ron's ultra high speed concentrators (my words for what was reported as "enhanced acceleration in the centrifugal concentrator systems") apparently gets even the finest stuff out. Another Atwood attaboy for thinking of increasing the speed. Low cost conveyor system is another attaboy, and wasn't it nice we had the cheap electricity available across the whole valley!
BTW, thanks for providing the financing to keep us alive during the dark days. There now is light at the end of the conal subsidence tunnel! LOL"
This was a cut and paste thanks to the wonderful world of puters. This is a chance of a life time for some, and a NEVER INVEST AT ANY COST!! for others. At the current price is it worth taking a risk that all may go as hoped? For some of us the answer is yes. For others the answer is just another pump and dump and most certainly a POS!! Time will tell.
Terry
"This guy Digr needs to get a new outlook on life."
Yes, that would be nice! Probably will not happen, and I have had many bouts with him, but you need to be ready to spar. This can turn into the shootout at the OK Corral. Have to have all your ducks in a row, and do your research and DD. Be ready to respond to all queries.
Terry
AK,
Still waiting on answers myself. Felt like he was this type of person the first time I responded to him. He is very pro GE, but does not quite understand why.
I ususally do not paint anyone with a broad brush, but so that you know where I am coming from, I have been a long time shareholder. I personally think it is worth the risk. I have been wrong before, but I have also found where the rainbow entered the earth before.
Still waiting on answers, but am not holding my breath!
Terry
Colleen,
Sorry, do not know. Sounds like the digger of old when he did not make sense, or respond to questions, but just ranted. He also sounds like WhoCares? on SI, however WC is anti GE.
I do not go to RB. Did not care for that much.
Terry
Its for real,
Tried to warn you off, but you insisted, and thought I was attacking. Just keep digging a bigger hole. Maybe the Chinese will help you out. Now that you have started, you have no choice but to put up or shut up. Keep that shovel moving so that the hole will continue to grow. This is not the thread to say that Myng is good, or Digr is bad. If so, better have all facts in place, and plenty of ammo to burn.
Terry
Cytotekk,
Thanks, Although I also hang out there. SI is where I started getting into threads like this.
Terry
Colleen,
The calculations are based on the info that you were presenting to AK. They were the presentations of value based on several scenerios. Had not read what you presented before, but since I have a mathematical mind, I could not help but calculate value based on the different models. May never occur, but was an interesting post to evaluate. Could be in for an interesting year when all falls down, or few years when Myng goes to the ranks of a major company.
Be careful what you say-----heeeess BACCCCCK!!!
Terry
Colleen,
If all goes to the end result that the MYNG faithful and the management project-----What will be the price of the stock? Did you actually calculate it out?
The chances of all occurring is probably low, but even figuring the results five years down the road when all is go, and the assessments are only 25-50% accurate, the stock has a chance of getting into the triple digits. And here we were talking about $5 being really nice! Would that not make a lot of people very happy. Based on your current posts, that is a very conservative estimate on this stock. Where is Digr when you need him to put all us back into the doldrums!! Must be in jail!! Otherwise I think we would be hearing Din. That is short for Din the Down Shouter.
Terry
Now you are cooking! GO MYNG!! One never knows for sure what will happen, but I for one put money into this one with the feeling that they had a play, and that the management was good. Will probably be waiting for a while, but this one is a play that is not totally dependent on the price of gold going to the moon. To me, that makes it a good play. Since I have lost money before on stocks like this, I am willing to risk the capital that I have in it. It is my money and I will do what I want with it. HA!
Terry
Because this is the digr thread, and he will tell you that it is POS! I guess that means positive, but I think he assigns another meaning. I was being TIC (Tongue In Cheek). I have been a buyer only at this point, and have fought off some shorts on another thread.
The conveyer belts were in reference to something else. Ask yourself why we have not seen pictures of them on the Myng thread if they are so good? Once you have an answer to that, you too can take on all comers.
Terry
PS: I am on your side!
Cannot believe you have actually posted a positive response about MYNG! The mine will never go, and the conveyer belt is an old antique that will break down twice each day, and four times on Saturday. It will take Willie the wrench days to get it back in shape in time for the next weeks load, and then the plant will go on the blink, and no gold will be made. We must only speak the truth here and be totally honest about the dim prospects for this lowly scam mining Company. The owners will enrich themselves off us lowly shareholders, the shorts will enrich their coffers, and they will take advantage of the banks.
I just cannot imagine what you must be thinking of to spew such garbage.
Terry
Cytotekk,
Thought I would see what the dark side had to offer. Interesting! Go Bears and Myng!
Terry