Gold Reserves Limited GLR - TSE Message Board

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

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To: barry doment who wrote (126)	11/12/1997 9:46:00 AM
From: The Vet	Read Replies (1) of 406

I suspect that the failure of 'deep rock ' rights might actually save GLR simply by making anyone contemplating a take-over nervous. Fair value to discover and prove an ounce of gold is about $20 US an ounce and take-over price for GLR (even with their poison pill in place) is less than $10 an ounce. Buying GLR would be far cheaper and far safer than actually going out and looking for gold and then proving up that find - even if you found it.. Without the shareholders rights package then the price of GLR is only $5 US per ounce of gold - an absolute gift. IMO GLR is a target until the share price exceeds about $8 US even with the "rights" plan in place, and even more so if they actually get the deep rock rights. (Or somebody finds out that they are about to get them and they don't inform the general market).

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