Gold Reserves Limited GLR - TSE Message Board

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Gold/Mining/Energy : Gold Reserves Limited GLR - TSE

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To: Wats who wrote (88)	7/16/1997 6:25:00 PM
From: The Vet	of 406

I have heard that there is positve news on the way regarding a number of issues including actually starting feasibilities studies. A collegue of mine who has talked to the company and knows a little about gold mining says that in his opinion they could be profitable at a gold price as low as $160 an ounce and that a mine would there would be a low overhead, high profit venture. This is not an official release but my source is generally reliable, and I have increased my long position substantially today at these "blue light special" prices. The price of gold however is still anyones guess, but I think its a case of limited downside, countered by a very attractive price. Placer Dome and Crystallex will have to sort themselves out now and that should help. My read on that one is that Crystallex got the copper and Placer got the gold. How the hell you can run a mine on that basis I have no idea..

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