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Gold/Mining/Energy : Gold Reserves Limited GLR - TSE
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To: Cyber Rock who wrote (326)1/27/2001 11:49:48 AM
From: Syncrude  Read Replies (1) of 406
 
Cyber Rock,

Things are still up in the air in Venezuela. The legal saga continues. I have seen no sign that the government is in a hurry. I guess we will have to see what the conclusions of the Scotia study are, once and if, they are made public by Placer Dome.

With Gold Reserve, I would be concerned that the remaining cash will be burned up in a new project, especially in a country such as Venezuela. A joint venture looks as the only sensible route to go, with a pooling of several concessions, IF the economics support it. The gold environment remains very poor. PDG has just re-evaluated its gold reserves using $300 instead of $325, in acknowledgement of the poor perspectives for gold.

Good luck to you.
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