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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.34

+5.2%

4:00 PM EST

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To: goldsheet who wrote (54212)	6/13/2000 2:40:00 PM
From: long-gone	Read Replies (1) of 116767

If those that own gold miners are crazy we are in rich company: Grollo takes shine to gold By BARRY FitzGERALD Wednesday 14 June 2000 The Grollo construction family has increased its backing of Melbourne-based gold producer Perseverance Corporation. It emerged yesterday that the Grollo family company Melbourne Square was a major backer of Perseverance's recent 10 cents-a-share placement. Melbourne Square took three million of the shares, enough to lift its share of Perseverance's expanded capital base from about 10.9 per cent to 14.9 per cent. The placement has given the Grollo family a chance to "average down" on its initial investment in Perseverance. This investment was acquired at much higher prices. Melbourne Square is now the second-biggest shareholder in Perserverance behind British-based Waverley group. (cont) theage.com.au

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