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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: baystock who wrote (911)	5/2/2001 8:49:06 AM
From: russwinter	Read Replies (1) of 4051

The news out of Venezuela looks very relevant to the GLDR play. See especially the last paragraph. "Correo del Caroni, April 28, 2001 - Orinoco Iron is a strategic project and will move forward." "CVG president Francisco Rangel Gomez stated that BHP pull out from Orinoco Iron Project is only conjectures and no final decision, either technical or legal, has been made. "whatever the outcome, we will bring in another investor to produce reduced iron in the form of briquettes". These statements were made public in a meeting with members of the Japanese-Venezuelan economic cooperation commitee." "In the same meeting Rangel Gomez, reported that the Canadian company Placer Dome said they are undergoing financial and internal problems, and we in Venezuela are studying this situation." "However, he stressed, Las Cristinas is a very important project, and we are looking to combine it with other mines around it, and perhaps set up a mining complex, which will be one of the largest mines in the world in terms of gold reserves. CVG has a good relationship with Placer Dome but we will move this project forward with them or another company."

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