Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: The Vet	5/17/2007 1:39:21 AM
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Gold Reserve (GRZ) prices new offerings. The price of the 12.8 million new shares was set at $5.80. The stock traded down and found support at that figure today. Also priced was a convertible note issue of $90 million at 5.5% convertible at $7.54. If all over allotments are taken up this should net over $250 million to the company to be used to commence construction of the Brisas mine. news.moneycentral.msn.com With 10.4 million ounces of gold and 1.3 billion pounds of copper (both P&P) and a fully diluted share issue of 71 million (assuming all the notes are eventually converted) GRZ's gold in the ground is still only valued at under $40 an ounce even if you ignore the quite significant copper value and the $250 million in the treasury.

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