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Gold/Mining/Energy : Gold Reserves Limited GLR - TSE -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (332)	1/29/2001 10:18:10 AM
From: Syncrude	Respond to of 406

russwinter, I think that the biggest obstacle is the weak price of gold. No one has been banging on the doors to mine LC. The government will decide how and when the LC legal saga will be resolved, but ultimately project economics must also prevail. I have not seen anyone bang on the doors of Brisas either. I can't see Gold Reserve being taken out at anywhere near the prices you suggest. Not only is gold weak, but I think that the outlook for significant and sustained higher prices is not good. Again, I would be concerned with what Gold Reserve will do with its remaining cash. This should be monitored closely. I think we agree that the future of Brisas is tied to that of Las Cristinas and perhaps beyond. If the POG was robust, then I think we would have seen a resolution to Brisas and Las Cristinas a long time ago.

To: russwinter who wrote (332)	1/29/2001 10:30:16 AM
From: The Vet	Respond to of 406

What we should all remember is that it costs money to find gold and last time I looked that cost was between $20 and $50 an ounce of proven reserves. The share prices of even senior miners now fails to value their reserves at cost of replacement and in GLDR's case it's reserves have a negative value. In fact there is very little exploration going on in this environment and eventually the price of gold will rise and the value that Gold Reserve represents will be realised providing they still are solvent and the strength to negotiate proper value for the shareholders. I am long and patient. While the share price is a disappointment I am reasonably happy with the management considering the difficult gold price and lack of investors in any mining ventures. Also watch Copper - it may make the difference...