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Gold/Mining/Energy : Gran Colombia Resources Inc (TSE.GRM)
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To: aliasrob who wrote (113)2/28/1997 8:57:00 AM
From: Michael Brody   of 308
 
Rob,
Well for one thing IMHO CQL is overpriced compared with GRM.
Secondly, GRM has had drills turning for months now and has
produced results pretty much in line with expectations. They are
in the process of outlining some 3 million ozs. and they only have
30 mill. or so shares out. Third, they own 25% of anything CQL
finds at marmato by prior agreement of partners. So if you add this
up you'll find that GRM is very undervalued, and they are at a
more advanced stage than either CQL or SUR and yet the trade for
less ? Doesn't make sense and it won't stay that way over the
long run imo. Yes, their land package in the Marmato is highly
prospective. Another thing to keep in mindis that GRM's deposit
begins at the surface whereas CQL's is more of an underground
situation. This means that CQL will most likely have to find much
higher grade deposit to justify themselves. By the way, I do not
want to create the impression that I don't like CQL just that
compared with GRM they are a bit hyped and overpriced. That's
about it. Hope that helps. Any more specific questions just ask.
Also, I believe there is huge disparity in Market cap. as well.
Something like 3 to 1. GRM market cap is something like 30 million
U.S. I am sure CQL is double to triple that. Sorry for the long post.
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