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Strategies & Market Trends : Ride the Tiger with CD

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To: Claude Cormier who wrote (20329)	11/17/2004 5:23:57 AM
From: The Vet	Read Replies (1) of 313062

Actually EPM.U economics are much the same as GRZ's but it has only a quarter the P&P reserves that GRZ has at Brisas. Besides EPM.U have used $375 and $400 gold and $1 copper in their projections. GRZ's pre-feasibility was still only using $350 gold and 90 cent copper. Higher prices make a huge difference to the numbers in these low grade deposits as you are well aware. Both projects depend on a robust copper price and EPM.U have 50% more shares issued than GRZ have already fully diluted. As Venezuela's currency is still one of the few that is devaluing against the USD it is making GRZ's local costs even cheaper. Don't get me wrong, I think EPM.U is one of the few reasonably valued gold projects without too many adverse issues. The MC is still to low for many of the funds to get involved but hopefully that should change as the price improves.

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