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Golden Eagle Intl MYNG

Advantego Corp is a United States-based company engaged in designing, developing and implementing digital communications and intelligent software solutions as a specialized Business Process as a Service (BPaaS). Its products and services enable organizations to create a comprehensive promotional and marketing campaign using social media marketing, customer relationship management, and lead generation. The company's products and services are provided through Intelligent Solution Platform. Its por


OTCPK:MYNG - Post by User

Post by pogohereon Oct 13, 2009 12:09pm
609 Views
Post# 16383711

Letter Offering $10 Million for Mill

Letter Offering $10 Million for MillGolden Eagle Receives Letter of Intent Offering $10 Million for the Purchase of Gold Bar Mill and Invitation to Negotiate Operating Agreement$0$0$0$0Press Release$0$0Source: Golden Eagle International, Inc.$0$0On 11:48 am EDT, Tuesday October 13, 2009SALT LAKE CITY, UT--(Marketwire - 10/13/09) - Golden Eagle International, Inc. (OTC.BB:MYNG - News) reported today that it has received a Letter of Intent ("LOI") offering $10 million for the purchase of the Company's Gold Bar mill from LWMG, LLC ("LWMG"), a private exploration and mining company with mining interests in Nevada and Utah. The Gold Bar mill is a 3,500 to 4,000 tpd CIP gold mill located 25 miles northwest of Eureka, Nevada that Golden Eagle has owned since 2004.$0$0The terms of the LOI provide for a $1 million down payment to be made by October 30, 2009, with $9 million deposited into escrow pending the completion of the permitting process. LWMG has also offered to negotiate a long-term operating agreement (referred to as a "tolling relationship" in its LOI), which would call for Golden Eagle to be the operator of the Gold Bar mill. However, if the permitting process were not successful, then the offered purchase price would decline to $5 million.$0$0The Company anticipates that it an LWMG will meet in the near future to negotiate the terms and conditions of both the proposed sale of the Gold Bar mill and the operating agreement. Golden Eagle also intends to carry out due diligence regarding LWMG's offer, and further intends to cooperate with LWMG on its due diligence with respect to the proposed transaction. Among the questions to be addressed during the negotiation period are when the $1 million down payment will be made and the conditions for its return to LWMG, when the $9 million will be deposited into escrow, the nature of the permitting that will be required as a condition for the full $10 million purchase price, to allocate responsibility for permitting and due diligence operations, to set forth additional conditions precedent to the transaction, and to establish a timetable for the completion of the transaction.$0$0While Golden Eagle cannot offer any assurance that it will reach satisfactory terms with LWMG regarding its offer to purchase the Gold Bar mill, or for an operating agreement, the Company intends to enter into good faith negotiations with LWMG to seek mutually beneficial terms and conditions.$0$0https://finance.yahoo.com/news/Golden-Eagle-Receives-Letter-iw-2551757692.html/print;_ylt=Aov9g4wNZeFWDwT1aug4GhOtcq9_;_ylu=X3oDMTBwNjZiaWw5BHBvcwMxBHNlYwN0b29scwRzbGsDcHJpbnQ-?x=0$0
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