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Gold/Mining/Energy : Greenstone Resources GRE.T or GRERF OTC -- Ignore unavailable to you. Want to Upgrade?

To: C Hudson who wrote (899)	6/30/1999 7:58:00 AM
From: Joe Gun	Read Replies (1) \| Respond to of 1005

Nesbitt Burns was removed as financial advisor to GRE. This quite obvious since Nesbitt last week remove their restricted status on GRE. Their current opinion is quite negative on the company. But take that with a major grain salt (not gold). The analyst David Mallalieu is known to have have lost personally a lot of money on GRE. He has been consistantly wrong about GRE. For instance he says at US350 per oz gold GRE would have a negative asset value .78 per share (per page C11 from Nesbitt Q3 Red Book). I mentioned this value to another analyst I know and I think is more creditable and he laughed at Mallalieu analysis. The market seems to think that with US263/oz of gold has a value of Cdn.30. Wonder what the market would value GRE at US350/oz gold, I doubt negative.