Gold Reserves Limited GLR - TSE Message Board

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Gold/Mining/Energy : Gold Reserves Limited GLR - TSE

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To: John Stopforth who wrote (58)	3/30/1997 2:05:00 AM
From: M. R. Ghaeli	of 406

reply to John Stopforth:"I'm very concerned however about the troubles at Bre-X. A lot of investors got into gold stocks in hope of finding another Bre-X. The resource sector could be advesely affected for long time." I do not think anyone is waiting for GLR or other exploration companies to come up with 70 billion ounces of gold or so. A proven and economic gold reserve is enough to fix a value to a particular stock. In the case of GLR their indications of multi-million ounces of gold is enough to make the stock worth way above $25. The only concerns remaining would be if the geological results are not manipulated and they get their legal documents of ownership. I think market will forget Bre-X after a while and stocks such as GLR will appreciate soon. Cheers

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