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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 411.93

-0.4%

Dec 24 4:00 PM EST

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To: Wade who wrote (699)	11/17/2003 2:55:29 AM
From: The Vet	Read Replies (2) of 29622

Wade, look at GRZ, my favourite in this category. 1. Drilling for many years. Doing additional in-fill drilling now. 2. Reserves $12 an ounce - 7.5 million already proved (cut off was $325 POG), Plus inferred (current drilling should prove it up) should make 11.5 million which will be .4 ounce per share. (Could be more with a higher cut off grade) 3. Pre feasibility has been done showing cash costs of $153 an ounce. They still have $20 million in the bank, and they have been very economical about dilution. Only 28.8 million shares. And they have 1 billion pounds of copper and no title problems.. Only recently moved to AMEX from the OTCBB and the shorts hit it hard with 75% of the first 2 weeks trades from short sellers. Buyers stepped up and are taking the stock fairly readily. The shorts have stopped the advance at about $4.60 US ($6 CAD) but they are underwater and it could interesting if the POG continues up. goldreserveinc.com

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