Gold Reserves Limited GLR - TSE Message Board

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

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To: Syncrude who wrote (288)	11/3/1998 1:48:00 PM
From: AL R	Read Replies (1) of 406

Here's a clip from Placer News Release The recently completed feasibility study update for the Las Cristinas gold project shows substantially improved economics. Placer Dome's anticipated average cash production cost over the first 10 years is US$155/oz. and the total cost of US$240/oz., with total gold production averaging 530,000 ozs. per year during that period. Reduced operating costs and the higher production rate are mainly due to increased mill throughput and revised mining schedules. “Even in this low gold market, we have a growing cash flow as a result of lower operating costs, increased production, and a very effective hedging program,” said Willson. “We expect continuing improvement in cash flow per share and earnings while maintaining the strongest exploration commitment in the gold industry.” Appears they want to continue with the project and I'm betting the GRL property is part of their plans. Take Care Al

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