Silver Eagle SEG.TO

Bull asked me at one point if I was going to profile SEG. I just found this quite interesting:

http://smartinvestment.ca.previewyoursites.com/dynamicdata/seg.asp

There are so many silver plays in Mexico, it's hard to choose!

Thanks Studbkr!

Sounds like an interseting operation, although small. Do you know when Mike wrote this?

I am going to look into SEG further. I like the idea of producers right now, even if they are not huge operations.

December 2006, I believe:

http://smartinvestment.ca.previewyoursites.com/coachsanalysis.asp

I should mention, that I have bought some for family members. If Oremex had not come along, I would have bought for myself as well. Looks like a no brainer, as silver keeps going up. Especially with their news coming out so positive.

So thanks Karl!

Bull, and how would you rate SEG versus SPM?

Well SPM will have 1000TPD mill so that is substantially more than SEG, however look at SEG's silver grades, quite impressive. I also like that SPM has some amazing zinc intercepts and that they can use bulk mining for very low cost extraction. SEG has some serious silver and though much of it is deep and there are some water issues, SEG will get a huge premium when silver trends towards $20.00 later this year, early next year. SEG should move up to $2.00 plus fairly quickly and may outpreform SPM. I quess I really like SPM for the resource they will prove up over the next year or two and the management is top shelf.

I look forward to the race between SEG and SPM on a percentage basis this year. If an opportunity presents itself, I will probably buy SEG

This strategy would be in keeping with my intent to move to established producers or low risk nearterm producers, as we start this new up leg in PM's

While I was in Mexico, Terry Byberg was getting an ad made up for Kitco. I wonder if it will have any effect on the stock?

Also, after some further editing Silver Eagle says they will ask CHF to link to my mine visit video. Maybe that will bring some more traffic to the forum here.

I should also try to get other subscribers to my service register here. I answer a lot of questions by email...better to do it here maybe.

I updated SEG in MP to see if i could get a P/E out of it. To my surprise P/E and a lot of other figures on MP are gone...

There is a new resource estimate due out any day now. I am hoping for a doubling to 24 million oz. This may be a bit optimistic, but if most drills are included, we could get there.

I am re-editing small parts of my video report on SEG, nothing major. One of the things that does make a difference is, SEG is soon putting a 4th drill to work and in the video I have "will soon put 4 drills to work."

Those who follow SEG closely, know that 3 drills are turning now, but I will make the correction in wording.

I have been looking at GPR.v a bit.

From what I get first off, they have 24 million oz AG/EQ. SEG's new resource estimate should be out soon. If they will report 24 million oz also, then I think SEG is extremely undervalued.

What say ye?

GPR was hyped a bit last year, then failed to meet expectations and the share price got pummeled. Management counts!

With that said, it will be an interesting comparison on the silver ounces and grades

Yessiree! Management does matter! One bone headed move and one can wake up to a 30% drop in bid. I am too old for that kind of action.

Shoot...I'm sitting here, half expecting the resource estimate today. I quess it won't happen today.

Some Goldman trades going through today.


Last Ten Trades


Time
Price
Shares
$ Change
Buyer
Seller


13:23
0.930
2,000
+0.010
Goldman
Scotia

13:22
0.930
20,000
+0.010
Goldman
Anonymous

13:18
0.930
3,000
+0.010
Goldman
TD Securities

13:18
0.930
20,000
+0.010
Goldman
TD Securities

13:18
0.930
5,000
+0.010
Goldman
TD Securities

13:18
0.930
2,000
+0.010
Goldman
RBC

13:18
0.930
3,000
+0.010
Goldman
RBC

13:18
0.930
20,000
+0.010
Goldman
TD Securities

13:18
0.930
2,000
+0.010
Goldman
TD Securities

12:31
0.900
4,000
-0.020
TD Securities
TD Securities

Sometimes it is nice to read press releases over the past year. I am reminded why I hold the company.

http://www.silvereaglemines.com/News_Releases.php


News Releases
2007





Sept 20

SILVER EAGLE MINES ENGAGES CHF INVESTOR RELATIONS


Sept 6

SILVER EAGLE AVERAGES 315 G/T Ag Eq OVER 29.9 METRES CORE LENGTH


July 11

SILVER EAGLE EXTENDS ITS CALVARIO VEIN DOWN DIP MORE THAN 400 METRES (1300 FEET), MEXICO


June 22

SILVER EAGLE CONTINUES TO CONSOLIDATE OWNERSHIP AT ITS MIGUEL AUZA PROJECT, MEXICO


May 23

SILVER EAGLE CONFIRMS CONTINUED EXTENSION OF VEINS AT DEPTH, MEXICO


May 10

SILVER EAGLE CLOSES EQUITY FINANCING INCLUDING EXERCISE OF OVER-ALLOTMENT OPTION, TORONTO


Apr 30

SILVER EAGLE ANNOUNCES PRICING OF PROPOSED FINANCING, TORONTO


Apr 27

SILVER EAGLE CONTINUES TO CONFIRM DEPTH EXTENSIONS OF CALVARIO VEIN SYSTEM, MEXICO


Apr 25

SILVER EAGLE ANNOUNCES PROPOSED FINANCING, CANADA


Apr 13

SILVER EAGLE ANNOUNCES FIRST SALE OF CONCENTRATE, MEXICO


Mar 30

DRILLING ON SILVER EAGLE'S CALVARIO VEIN CONFIRMS CONTINUITY AT DEPTH, MEXICO (MapA) (MapB)


Mar 8

SILVER EAGLE'S UNDERGROUND DRILLING CAMPAIGN DISCOVERS NEW SILVER ZONES, MEXICO (View Map)


Feb 23

SILVER EAGLE ANNOUNCES OFFICIAL OPENING OF MIGUEL AUZA MINE, MEXICO
(View Map)


Jan 11

SILVER EAGLE COMMENCES PROCESSING OF BULK SAMPLE, CANADA/MEXICO

Bull

You have been around long enough, to know not to trust most of the stuff
that CEOs and other personnel of mining comp throw at you in passing

Yes! They do keep telling the story, don't they?

Okay SEG, where is that new resource estimate?

Maybe this is the reason for the high volume today

Trade halt...get ready.......For, 24 million oz?

Silver Eagle Mines Announces Significant Resources IncreaseMarketwire

Silver Eagle Mines Inc.

October 17, 2007 - 09:50:28 AM

Silver Eagle Mines Announces Significant Resources Increase


TORONTO, ONTARIO--(Marketwire - Oct. 17, 2007) - Silver Eagle Mines Inc.
(TSX:SEG) is pleased to report an increase in indicated resources in excess of
500%, at its wholly owned Miguel Auza Property in Zacatecas, Mexico. Since
announcing its initial resource estimate in April of 2006, an intensive
diamond drill campaign has resulted in an increase in the indicated resource
from 3.2M oz Ag Eq(2) to 21.1M oz Ag Eq(1) while the inferred resource has
decreased slightly, from 9.4M oz Ag Eq(2) to 9.1M oz Ag Eq(1). Wayne Valliant
P.Geo., of Scott Wilson Roscoe Postle Associates Inc has audited and approved
our updated resource estimate and is preparing the technical report.

The following tables summarize the new indicated and inferred resource
estimates, respectively, as approved by Mr. Valliant:



Indicated Mineral Resources
---------------------------

---------------------------------------------------------------------------
Contained
Zone Tonnes Grade Metal
---------------------------------------------------------------------------
Au Ag Pb Zn Ag Eq Ag Eq
---------------------------------------------------------------------------
(t x 1,000)) (g/t) (g/t) (%) (%) (g/t) (Oz x 1,000)
---------------------------------------------------------------------------
Calvario A 1,496 0.18 147 2.08 2.13 326 15,698
---------------------------------------------------------------------------
Calvario B 169 0.21 120 2.40 3.09 357 1,940
---------------------------------------------------------------------------
Milagro 351 0.17 143 1.88 1.86 302 3,414
---------------------------------------------------------------------------
Total
Indicated 2,016 0.18 144 2.07 2.16 325 21,052
---------------------------------------------------------------------------


Inferred Mineral Resources
--------------------------

---------------------------------------------------------------------------
Contained
Zone Tonnes Grade Metal
---------------------------------------------------------------------------
Au Ag Pb Zn Ag Eq Ag Eq
---------------------------------------------------------------------------
(t x 1,000)) (g/t) (g/t) (%) (%) (g/t) (Oz x 1,000)
---------------------------------------------------------------------------
Calvario A 476 0.19 150 1.32 1.28 272 4,153
---------------------------------------------------------------------------
Calvario B 19 0.06 56 1.02 0.64 124 77
---------------------------------------------------------------------------
Calvario C 122 0.14 130 1.84 1.28 259 1,013
---------------------------------------------------------------------------
North 177 0.22 625 0.63 0.44 676 3,840
---------------------------------------------------------------------------
Total
Inferred 794 0.20 250 1.24 1.08 356 9,083
---------------------------------------------------------------------------

(1). The October 2007 Resource estimate was prepared under the supervision
of Silver Eagle's qualified person Dr. Christopher Hodgson, P, Eng., and
audited by Wayne Valliant P.Geo., of Scott Wilson Roscoe Postle Associates
Inc.

- CIM definitions were followed for mineral resources.

- Indicated mineral resources were estimated using a cutoff net smelter
return of US$ 40, based on metal prices, plant recoveries, and smelter
terms as per notes below.

- Inferred mineral resources were estimated using a cutoff net smelter
return of US$ 30, based on metal prices, plant recoveries, and smelter
terms as per notes below.

- A minimum mining width of 1.0 m was used.

- Equivalent Ag grades and contained ounces were estimated based on
US$600/oz gold, US$11/oz silver, US$0.65/lb lead, and US$1.00/lb zinc.

- Equivalent Ag grades and contained ounces were estimated based on gold,
silver, lead, and zinc plant recoveries as per the most recent
metallurgical test work and smelter terms.

- Mineral resources that are not mineral reserves do not have demonstrated
economic viability.

- Rows and columns may not add exactly due to rounding.

(2). The resource information presented in the April 2006 resource estimate
Technical Report and used herein was prepared under the supervision of an
independent "Qualified Person" within the meaning of National Instrument
43-101 and is contained in a report entitled "Technical Report Miguel Auza
Property" by Wayne Valliant, P. Geo, dated April 2006 which was prepared in
accordance with National Instrument 43-101. The report is available for
inspection at the Company's office during business hours. Silver
equivalents were calculated using US$450/oz Au; US$7.00/oz Ag;
US$0.40/lb Pb; US$0.60/lb Zn. The cut-off NSR value included a 70% overall
mill + smelter recovery as determined by preliminary metallurgical test
work.



Silver Eagle's President and CEO, Mr. Terrence Byberg, said "We are very
pleased with the resource update and will form the basis of the
pre-feasibility study currently in progress in respect of the Miguel Auza
Mine. Our diamond drilling program will continue at the mine site with a goal
of further enhancing the resource and life of mine plan. To this end, we
currently have one contracted drill and two Company owned drills working on
the Property from surface. We are also in the process of purchasing an
additional diamond drill which can be used either on surface or underground".

Silver Eagle will be taking part in the Cambridge House Toronto Resource
Investment Conference being held at the Metro Convention Centre on October
21/22, at Booth 317.

ABOUT SILVER EAGLE

Silver Eagle Mines Inc. is a TSX-listed (TSX:SEG), Canadian-based mining
company exploring and redeveloping an historic silver property in the heart of
the Mexican precious metals belt. The Company's primary asset is its
wholly-owned Mexican subsidiary San Pedro Resources, S.A. de C.V., which
controls the fully permitted Miguel Auza Mine and adjacent properties in
Zacatecas, Mexico. The property includes the mineral rights to 41,498
hectares, hosts past producing mines, and has all necessary infrastructure and
a trained mining work force nearby. The present resource consists of an
indicated mineral resource of 21.1M oz Ag Eq(1) and inferred mineral resource
of 9.1M oz Ag Eq(1). The Miguel Auza Mine generated its first revenue earlier
this year and is currently processing a 30,000 tonne bulk sample through its
on-site mill which has been expanded to a daily capacity of up to 200 tonnes
per day of oxides. Silver Eagle continues to diamond drill the Miguel Auza
Mine site with 3 drill rigs and has also commenced a preliminary exploration
program on its other Mexican properties, outside the Miguel Auza Mine area.

ON BEHALF OF THE BOARD OF DIRECTORS OF SILVER EAGLE MINES INC.

Terrence H. Byberg, President & CEO

If you would like to receive press releases via email please contact
Catarina@chfir.com please specify "Silver Eagle press releases" in the subject
line. Well I'm happy! 24 million EQ oz's easily, that is with a slightly higher $.65 lead EQWe are talking major upgrade to indicated resources here!!!

I wonder what "Manipulipedia" has to say about that?

No way MP could know that SEG would increase indicated by 500%. Not only that, MP also doesn't know that another 25 million oz's is only a year away...In my estimation. Why?...Well with 4 drills working like the devil made 'em do it, and the property SEG has....FA GAT BOUT IT!!!

BULL ARE YOU SELLING ?

NOT a flippin' chance!!!

SEG could easily prove up 100 million oz's with the property they have...Given that would take a while.

Look!...20 million in cash, an operating 350 TPD mill, cashflow positive by FEB, fairly tight share stucture, no need to raise and dilute, huge inside ownership........No stop signs, no speed limits baby!!!

How high does it trade now ??

Bids in at $1.20 and rising!!!