Silicon Investor (SI) -- The First Internet Community

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 : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (2204)	3/7/2002 1:42:38 PM
From: The Vet	Read Replies (1) \| Respond to of 39344

<Why only .86?? High cost gold?> According to Gold Reserve projected cash costs $109 per oz, total costs $166 per oz. They have approx 24 million shares and about $15 million USD cash and no debt. Management is competent and conservative IMO. That makes the gold reserves valued by the market at less than $4 million for 21 million ounces of reserves - and it's fully proven and drilled. The reason for the low share price is that it is in Venezuela and the area they are in (Kilometer 88) has a spotty history with Crystallex, Placer Dome and Vanessa squabbling with each other and the government over half the deposit. Gold Reserve has no issues of ownership with their half and they seem to be well positioned with the government to get access to the whole thing. The Venezuelan government is anxious to get the show moving. They need the income... I am long and holding. Please do your own DD. 206.96.186.251