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Gold/Mining/Energy : Gold Reserves Limited GLR - TSE
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To: russwinter who wrote (332)1/29/2001 10:18:10 AM
From: Syncrude   of 406
 
russwinter,

I think that the biggest obstacle is the weak price of gold.

No one has been banging on the doors to mine LC. The government will decide how and when the LC legal saga will be resolved, but ultimately project economics must also prevail.

I have not seen anyone bang on the doors of Brisas either. I can't see Gold Reserve being taken out at anywhere near the prices you suggest. Not only is gold weak, but I think that the outlook for significant and sustained higher prices is not good. Again, I would be concerned with what Gold Reserve will do with its remaining cash. This should be monitored closely. I think we agree that the future of Brisas is tied to that of Las Cristinas and perhaps beyond.

If the POG was robust, then I think we would have seen a resolution to Brisas and Las Cristinas a long time ago.
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