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Gold/Mining/Energy : Precious and Base Metal Investing
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To: marcos who wrote (26164)1/1/2004 6:45:56 PM
From: The Vet  Read Replies (1) of 39344
 
Marcos as you quite rightly say "but it has nothing to do with speculating in the juniors," so let's get back to the origin of this discussion.

You have clearly stated that you believe that the political situation in Venezuela is an impediment to Gold Reserve (GRZ) and by that I assume you mean that it extrapolates into a lower value and lower share price in the market.

As GRZ's proven and probable reserves are valued by the market at about $13 an ounce, (by far the lowest of the top 60 gold companies according to MineWeb by several factors of magnitude), if the Chavez factor wasn't an issue, what would you think would be a fair price?

mips1.net

In addition we have to assume that other companies who mine or explore in Venezuela (in whole or in any part of their operations) would be similarly affected, so would you like to apply the same factor to Hecla, Crystallex, GoldFields, Boliva, etc. and tell us how much their share prices are likely to increase without Chavez in charge?

I am particularly interested in the Bolivar situation which, if you read the table from Minweb had it's gold in the ground valued at $179 an ounce at the same time that Gold Reserve was valued at $14 an ounce. There have been some slight changes in the share prices since then but they are not significant, so over to you for the explanation and justification of your statement.

Have a happy and prosperous New Year!
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