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Gold/Mining/Energy : Gold Reserves Limited GLR - TSE
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To: barry doment who wrote (128)11/14/1997 1:33:00 PM
From: The Vet  Read Replies (2) of 406
 
I'm buying at these prices Barry. I think that the negative reaction to this announcement is way over the top. According to my understanding GLR's applications had been grandfathered in and should be granted as this is a traditional mining area. New applications may be affected but existing ones should not be. The problem seems to be that the courts and the government are on entirely different wavelengths on these issues and confusion reigns supreme. I am hoping for a quick soothing announcement within a couple of weeks which will comfort the market and get the price up into a reasonable range again. After all GLR has almost $2 a share in cash so any gold comes for free. Presently 90k shares have traded on NASDAQ and the price is $3 US.
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