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Gold/Mining/Energy : Gran Colombia Resources Inc (TSE.GRM)
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To: Eric Tai who wrote ()11/6/1996 9:45:00 PM
From: Michael Brody   of 308
 
Eric,
I have been onto GCRI for about a year now. I bought when
Casey first reccommended a year ago. In between, there was a dispute
between CQL and GCRI which suppressed the price of both. The dispute
confused a lot of people. Most people think that CQL came out on top
but I totally disagree because the dispute only would have addded
resevres in addition to GCRI's clear property. The Marmato deposit
is really at least two deposits an upper part and a lower part which
comprises CQL's 51% ownwership of the UNDERGROUND Marato mine. This
is where CQL suspects 15 million ozs. live. After the dispute
about the UNDERGROUND portion GCRI came out witha 25% stake whereas
CQL gets the contolling interest. GCRI's main orebody which is being drilleddrilled out now ( and which is right on projection) will
contain at least 4-5 million ozs. not 3.7 and this is only
about 10% of the potential mineralization. This is why I cannot
understand why people seem so much more enchanted by CQL. Casey
has said they are better promoters and I believe he is spot on.
CQL is a great propect but I think GCRI is ahead in exploration
and has a great property in the upper half. Remember, in bulk
tonnage deposits being at , or near surface is the best possible
scenario. Underground mining is always more costly and fraught
with difficulties. By the way, is Casey still high on GCRI(now
GRM-Toronto).
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