Gold Reserves Limited GLR - TSE Message Board

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

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To: M. R. Ghaeli who wrote (59)	3/30/1997 10:57:00 AM
From: John Stopforth	of 406

M.R.Ghaeli I hope your right and I'm wrong but I have a bad feeling about the Bre-X affair. The only thing that can save mining stocks would be if Bre-X is vindicated. Many mutual funds had large positions in Bre-X (70% of the shares) and when novice mutual fund investors get their statements they may pull out. Gold Reserve is in a great position financially with 30 million in the bank but when other mining companies get in trouble financially because they can not obtain financing, all mining companies will be dragged down. I'm usually an optimist but I've been around too long and I've seen one company's results bring down an entire group. Monday we could get a bounce but a feeble one in the mining sector. John

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