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Gold/Mining/Energy : Gold Reserves Limited GLR - TSE
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To: Syncrude who wrote (328)1/27/2001 6:28:42 PM
From: russwinter  Read Replies (2) of 406
 
GLDR is promoting the idea (to be hopefully confirmed by the Scotia study) of combining LC and Brisas to create a very low cash cost profile of $109 (166 incl. capital costs). Although this would be a $one billion project, it would clearly be among the lowest cost and largest mining operations in the world. The question begs, if this can't be done, what can? And if nothing can, can gold stay depressed?

It is my impression that Venz. wants this to get started. They are a stakeholder, and have put millions into KM88 infrastructure in the expectations it will be one the largest gold/copper districts in the world. Apparently PDG isn't interested? If so, they will be pushed aside (or sell) to make room for someone with a little more vision. I see NDY or ANGLY as possible candidates.

From my conversations with mgt, GLDR is interested in either a carried share of the project, or they will sell out to enable it to come together. There is no way they try to develop Brisas alone, nor are they married to it. I see them as playing a proactive role. This situation is alive and well, and frankly I find it extraordinary that this play trades at a valuation of about 70% of it's stated cash value per share of 74 cents, with Brisas valued at absolutely zero.
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