Gran Colombia Resources Inc (TSE.GRM) Message Board

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Gold/Mining/Energy : Gran Colombia Resources Inc (TSE.GRM)

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To: Phil Didaskalou who wrote (246)	10/16/1997 5:08:00 PM
From: TrueScouse	of 308

Phil: I spoke to the company this afternoon. Summary..... - There's no material change to explain yesterday's heavy volume and price rise. Apparently there was a small article in the Financial Post which pointed out that the cash value of the shares was higher than the trading price. - In terms of the cash value, they have $10 million (U.S.) at present, or about $14 million (Can). With a total of 35 m. shares, that works out to $0.40 per share for the cash. - GRM no longer has any interest in CQL's property at Marmato. They sold their stake in Mineros Nacionales for $1.5 million (U.S.), (which is part of the $10 million cash they now have) . - They could raise some more cash by selling their own Marmato property (to CQL?) - They are looking for "advanced" projects to buy, probably elsewhere in Latin America. That's as much as I found out. IMO GRM is a great deal at the current price, and this could be further enhanced if they purchase well-developed prospects in a country with less political risk than Colombia (which shouldn't be hard!) Regards, Howy

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