Gold Reserves Limited GLR - TSE Message Board

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

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To: Tim Cruise who wrote (99)	7/22/1997 12:23:00 AM
From: The Vet	of 406

Tim, the most obvious play would be to combine both. I don't think that KRY can ever make it on their own so they are using their legal position to pressure PDG. We are fortunate that GLR has its shareholders protection plan in place or we could be quickly swallowed up in an unfriendly takeover at these prices. The average price to find and prove an ounce of gold for a successful company is over $20 US per Ounce. That gives the Brias deposit a cash value right now of $ 146M USD plus cash on hand of about $40M works out to about $8,40 USD ($11.50 CAD) per share even if they find nothing else... Your $14 CAD is quite conservative IMO.

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