Gold Reserves Limited GLR - TSE Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Cyber Rock who wrote (48)	3/11/1997 4:58:00 PM
From: John Stopforth	of 406

Clar and Francis Here is a news story from stockhouse.com on Placer Dome. I'm not sure if this effects Gold Reserve's deep drilling rights or not. Official: Placer and partner have secure rights to gold project TORONTO, March 10 (Reuter) - Canadian gold miner Placer Dome Inc and its joint venture partner Corporacion Venezolana de Guayana (CVG) have secure rights to the Las Cristinas gold project, a Venezuelan official said on Monday. "There is no doubt that CVG and Placer Dome are the rightful owners of Las Cristinas," Rafael Rodriguez Acosta, president of the special mining commission of Venezuela's House of Representatives, said at a seminar on the Las Cristinas project hosted by Placer Dome. The ownership of the gold project has been disputed by Vancouver-based Crystallex International Corp which says it holds rights to two blocks of Las Cristinas. Crystallex has said it bought the rights to the two blocks by acquiring a Venezuelan company whose rights to the property were confirmed by a Venezuelan Supreme Court ruling last year. Acosta said Placer and GVC's tenure would no longer be in doubt under new Venezuelan legislation which will convert mining contracts to mining concessions. The legislation is currently before the Venezuelan senate, he said. William Hayes, president and chief executive officer of Placer Dome Latin America, said the conversion to mining concessions would "certainly put an end to that (Crystallex) discussion." "We don't have any doubt about the validity of our work contract with CVG, but we're quite pleased to have it converted to a concession," Hayes said in an interview. He said a wholesale tax exoneration has also been approved by the Venezuelan cabinet. Placer has sought exoneration from US$80 million in taxes on project materials for Las Cristinas. Clar I'm even more positive on gold than before. Gold dropped rescently but did not reach its old low of $335/oz. This is very positive. Now it must surpass its rescent high of $365/oz if it does then we will be at $385 in no time. From the Rockies John

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next