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Gold/Mining/Energy : Gold Reserves Limited GLR - TSE
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To: bernard cooper who wrote (81)5/9/1997 9:33:00 PM
From: John Stopforth   of 406
 
bernard

The price of gold was up $4.50/oz today and GLR is following it up.
Next week should be interesting, I've been expecting a good movement
for gold since the beginning of the year. For the last few weeks, gold
has been flat at around $440/oz which means the Bollinger Bands have
been pinching. Which ever side of the Bollinger Bands gold breaks out
of, that will be the direction it will trade. One or two more days like today and we are heading to $485/oz.

Now that Bre-X is over, investors are looking at companies with proven
reserves whose share have been beaten up, hence Gold Reserve was up
$1.20 today.

The same goes for Asia Pacific but APQ will not recover as much as
GLR because of the news of no JV partner.

John
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