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[Prentiss]

VERY RISKY GOLD PLAY

I'm in @ $0.0021.

They have recently resumed operations at a very fruitful gold mine in Bolivia. No target, just prime for eventual profit-taking. I suggest holding to a penny. Beware of the low volume!

- - - - - - - - LATEST NEWS - - - - - - - - -
SALT LAKE CITY, UT -- (MARKET WIRE) -- 04/16/09 -- Golden Eagle International, Inc. (OTCBB: MYNG.OB) reported today that ore processing has recommenced at the Jerritt Canyon gold mill and the first gold was poured there yesterday afternoon. This is the first gold pour since permission was received from the Nevada Division of Environmental Protection (NDEP) for the restart of the milling facility.

The gold pour was attended by the President and CEO of Yukon-Nevada Gold Corp. (YNG), Graham Dickson, as well as YNG's CFO, Shaun Heinrichs, and Nicole Sanches, YNG's Investor Relations Manager. Golden Eagle had in attendance Blane Wilson, its COO, as well Curtis Casagranda, Chris Zerga, Mike McGhee, Alan Wilson, Mathew Jones, Scott Alcorn, Ruston Hebdon and Pancho Melendez. The gold pour was also covered by Adella Harding and Ross Anderson of the Elko Daily Free Press .

YNG stated that its "President and CEO, Graham Dickson, was happy to see the successful culmination of a great deal of effort and hard work expended by YNG, sub-contractor (mill operator) Golden Eagle and the NDEP."

YNG's CFO, Shaun Heinrichs, stated, "The reappearance of cash flow is both exciting and invigorating. We are sure that in the coming months we (YNG) will now be able to pay down all obligations and emerge once again as a profitable gold mining company."

YNG's Graham Dickson echoed his CFO's sentiments and said, "We can now concentrate on our plans to restart mining at Jerritt Canyon and to make further advances towards profitable production at Ketza River in the Yukon Territory . YNG today indicated that, 'Ongoing permitting at Starvation Canyon, Nevada will allow the Company (YNG), in the future, to realize an increase in the production of gold ounces at Jerritt Canyon.'"

Golden Eagle's crews have been on-site at the Jerrit Canyon mill since mid-September 2008 providing maintenance and environmental compliance operations pending the restart of the mill. On October 14, 2008 the Company entered into a Mill Operating Agreement (the "Agreement") with Queenstake Resources USA, Inc. ("Queenstake"), a wholly owned subsidiary of Yukon-Nevada Gold Corp. (YNG), to operate the 4,000 ton-per-day (tpd) Jerritt Canyon CIL gold mill located 50 miles north of Elko, Nevada . Under the Agreement, Golden Eagle will be the mill operator for a term of 5 years, which is renewable at the option of YNG's Queenstake for an additional 5-year term. The terms and conditions of the Agreement are set out in a Current Report filed with the U.S. SEC on Form 8-K on January 15, 2009 and can be accessed at its EDGAR electronic library: U.S. Securities and Exchange Commission (Home Page) or Golden Eagle's website, www.geii.com.

Golden Eagle's CEO, Terry C. Turner, stated, "We are very pleased for Yukon-Nevada on the recommencement of operations and congratulate its management on its hard work, persistence and commitment to bring Jerritt Canyon back to life. This gold pour is a first step toward a very productive future for the Jerritt Canyon mine and mill and we are happy as a company to be participating in this comeback."

The Company has posted a PowerPoint presentation featuring the Jerritt Canyon gold mill on its website at: http://www.geii.com/_presentations/1...nyon093008.swf.

Golden Eagle International, Inc. is a gold and copper exploration, mining and milling company headquartered in Salt Lake City, Utah ; with offices in Elko, Nevada and Santa Cruz, Bolivia . The Company's most recent efforts have centered on its Agreement with Queenstake Resources USA, Inc. (a subsidiary of Yukon-Nevada Gold Corp. ) for the operation of the Jerritt Canyon 4,000 tpd CIL gold mill. In addition, Golden Eagle is working to maximize the potential of its Gold Bar 4,000 tpd CIP gold mill located in Eureka, Nevada through a joint venture, toll refining arrangement or potential merger. The Company is also maintaining its C Zone gold mine and mill in eastern Bolivia's Precambrian Shield, as well as its Buen Futuro A Zone gold and copper project, in a temporarily dormant status.

[AndyB]

We need to do a bit of DD into this stock. First glance it appears they are pouring gold yet have a market cap of $4million.

Either this is waaaay undervalued and has not been noticed yet or something is wrong.

Any thoughts?

[Prentiss]

To put it simply, as a complete spec play this stock to me is almost as good as it gets.

1. The news is good.
2. Market Cap is extremely low.
3. Share price is ridiculously low.

This simply means I can invest a tiny amount of cash for a crazy large return. To good to be true? Most likely. But hey, it's a spec play. XD

[AndyB]

Boom! I bought some MYNG. Fundamentals look good. A little too good, I wonder why their market cap is low.

Well when the gold gets sold then there should be a pretty sharp revaluation, unless its an awesomely cunning scam ...

Here's hoping!

[Prentiss]

Originally Posted by AndyB Well when the gold gets sold then there should be a pretty sharp revaluation, unless its an awesomely cunning scam ...

Lol, exactly!

[AndyB]

Verrry interesting. This stock jumped quite a bit recently (although it didn't get over its recent high).

Somebody did some sums over here for MYNG

http://finance.google.com/group/goog...9414a41fa3fcf9

1) $38 per ton processed ( minus operating expenses ) 2) 8% of operating expenses 3) 20% of excess above operating expenses 4) $2 per ton bonus every $50 over $900 per oz of Gold 5)Projected 4000 tons per day processed at full capacity 6) 20 days processing per month 7) operating expenses projected at approx.60% of total revenue at full capacity Full capacity revenue & profit estimate: $38 X 4000 tpd = $152,000 per day $152,000 X 20 day month = $3,040,000 revenues per month $3,040,000 X 3 months per quarter = $9,120,000 revenues per quarter Operating expenses of 60% X $9,120,000 = $5,472,000 per quarter Excess of operating expenses = $3,648,000 per quarter MYNGs 8% of 5,472,000 operating expenses = $437,760 MYNGs 20% of $3,648,000 Excess above operating expenses = $729,600 MYNG will make approx. $1,167,360 profit after Jerritt Canyon expenses per Full Capacity quarter. 1st quarter due within 2 weeks will reflect NO processing. It should still match or exceed 4th quarter revenue of $577,000. ( profit approx $100,000) 2 nd quarter due to report in July should reflect approx 2/3rds of full capacity = approx. $770,457 profit - revenues = $6,019,200. 3rd quarter due to report in Oct should reflect 1st Full capacity quarter of $1,167,360 profit and $9,120,000 revenues. 4th quarter should be approx. the same as 3rd quarter due to Jerritt running at full capacity - if everything remains constant. 2009 projected revenues from Jerritt = $24,836,200 This is not a net number - you still have to factor in MYNGs Corporate operatiing expenses. If and when the Bar Mill Deal is executed - these projections will double - minimum. The downside has been eliminated - except for the normal ebbs and flows of any equity. As these numbers bcome a reality - MYNGs PPS will reflect this reality"

[Prentiss]

Thanks for the info Andy! I may need to hurry and double my position!

[Mac]

I just bought at 0.0012, based on the technicals I'm expecting a nice bounce...an easy doubler from this point, IMHFO.

***rolls the dice***

[AirMax95]

Hmmmmmm......penny stock. I wonder?

[oNi]

Just bought 100,000 @ .0012, see it getting back in the .0020's myself. GLTA.