The first point that I would like to make is that in spite of a few similarities the two plays were vastly different. The first article is from a local paper and outlines how massive an undertaking GEA was embarking on. The complete article is on the agoracom GEA site titled This Was Taken From The Northern Sun News . posted by fullogas

Resuming exploration nearly 70 years after the initial closure of Gold Eagle Mines in 1941, Lawrence noted the company’s findings as a significant gold discovery.

However, Lawrence explained that developing Red Lake’s third great mine could still be ten to fifteen years down the road, depending on the results from their exploration efforts. The company is looking at three years just for the construction of the mine site, which will include installation of underwater hydro lines, receiving all essential permits and licencing, advancing the shaft and constructing the waste water rock pads and drainage systems, as well as the development of a water treatment plant, if necessary.

The shaft sinking is expected to commence in mid 2008 and J.S. Redpath Limited has been hired to begin the specialized design and engineering work required.

A separate ice road running adjacent to the municipal winter road between McKenzie Island and Cochenour will be developed for transportation of material during the winter months and a 110 foot, 120-ton barge will deliver the goods once the water is open. Company officials assured that barge service would not take place overnight and would be operated on demand, so there may be days when it remains stationary at the dock.

Utilizing existing barge landings, the company is making every effort possible to minimize any further land disturbance. This includes reusing the old tailings pond on the Island as part of the water management requirements and any leftover waste rock from the old mine site.

And all of that was after four years of surface drilling. The next important excerpt I pulled from THE GAZETTE shows how fast majors can move if they want to. AEM took up a 5% stake in GEA prompting Goldcorp to move quickly. Estimates on the deposit were 10 million plus ounces, however they were a long way from proving any of that resource. This deposit is 7000 feet below a body of water. Goldcorp paid $12.62 per each GEA share and now owns the property.

Bruce Channel does not have an established resource, as the depth of the deposit has made drilling difficult, but Allan estimated it was at least 7.3 million ounces. Goldcorp will be able to access the deposit through one of its own nearby shaft and will drill from there to establish a resource, although that likely won't be ready until the end of next year, the company said. It will also have to sink a new production shaft. The company gave a rough estimate of the all-in mine costs, including the cost of acquisition, at less than $650 an ounce.

Goldcorp paid just under $650 per ounce all in cost much of which was for infrastructure we already have. Our site is easily accessible and our ore is equal in grade, but much of it is near surface. Another bonus , we are fully licenced and permitted.Not only that the new owner could start developing and selling the gold immediately.

GEA never produced the 43-101, yet the majors new exactly what they had under Bruce Channel. The 43-101 is important only to us "mushrooms" to give us a little peace of mind. San gold deep, Hinge with multiple lenses, Cohiba , Cartwright, sg1, and now possibly Emperor. Do the math and compare the two companies and IMHO some pretty big numbers start coming into view with SGR looking pretty good. We may have more dilution but we also have a lot more to offer. All of this of course is IMHO

PS for Traps

Many articles I read about GEA talk about neighbouring plays. Does RMX come to mind. Long on the greens.