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

To: Cyber Rock who wrote (357)	5/24/2002 12:40:06 PM
From: The Vet	Respond to of 406

I guess he means $20 Canadian for GLR.A on the TSE that's about $13 US for GLDR. I would love to see it, and it is by no means impossible especially if Copper revives. To get to this price Gold Reserve would need to get a substantial portion of the combined Las Cristinas/Brias mine (at least 25%)and a free ride on some of the development price. That's possible when you consider that Brias is a little over 40% of the combined project so they discount 15% for a significant reduction of their share of the development costs which would be about $800 million. A $13 US price (for 25% of the mine) would value the whole of GLR at $300 million and the total project at $1.2 billion. $350 an ounce gold and 90 cents copper would easily support those value IMO, so it's not silly. I would expect a quick double of the present price as soon as a definite positive announcement comes out of Venezuela. Will it be next week? Who knows, but it is possible..