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Gold/Mining/Energy : GL Energy & Exploration Inc

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To: Rocky510 who started this subject	7/24/2003 10:55:05 PM
From: Rocky510	Read Replies (1) of 16

re GL Energy & Exploration Inc GEEX News release 23 July. A previous news release said that $3,000,000 was raised and then 23 July's said $2,000,000 was being negotiated for a pilot plant. This is all true but confusing. What is going on is that (given the last $2,000,000 is forthcoming) two pilot plants will be in operation - one for each Chile property. This really enhances income for the pilot plant period. This also means that people are willing to provide $5,000,000 and would not do so if they did not have confidence in the company so I view the long term prospects as favorable. Another point: the reserves here are proven reserves and the pilot plants are to determine the parameters for the production plants (as opposed to determining if the reserves are true). That the reserves are proven reserves also increases my confidence a great deal.

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