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Thursday, January 01, 2004 1:50:55 PM
1. I first purchased back in 1998 based on their third, yes, third geo report on their property in Bolivia. The results were over 6 million oz's of gold and possibly the largest gold find in the world. The SEC did not like their report because it did not pass SEC 7 guidelines. The stock moved from .05 to 1.75 in that timeframe.
2. The SEC took them to court and MYNG won their case one of only two in the history of NASDAQ BB stock that beat the SEC.
3. The stock suffered because of the SEC but MYNG was not proven in the wrong but investors were nervous and gold was in the dumps at the time. MYNG survived SEC and continues to believe in their property. They hire Beher DolBear (SP?) one of the most well known mining cosultants in the world. They studied the property and stated " that the deposit was very unique and is spead out for miles but eratic". What they were saying is that it is the largest alluvial gold deposit they have ever seen and they have never seen anything like it.
4. Top management from Barricks and Newmont (must check their profiles at www.geii.com). Terry Turner is well thought of in Bolivia he is also the only practicing American attorney in Bolivia.
5. MYNG has stated that the gold is one mile wide and miles deep. You need to understand the history of their deposit. In short it has produced over 32 million oz's tracing back to the Inca's and because of the make-up of the geography over time the hills have moved and pushed all the gold in the Tipuani River and thus has built up layers upon layers of gold.
6. MYNG has two properties Cangalli and Buen Futuro; they are producing on Cangalli and will be claiming gold and copper reserves in about two weeks with Buen Futuro.
Sorry, for the length but when this all plays out they will be the story of the century for gold. You will not go wrong with this one, they seem to always survive.
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