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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: The Vet who wrote (32078)	11/4/2004 11:50:20 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 39344

A very good point. But then what is the reason why they financed at such low price?

To: The Vet who wrote (32078)	11/5/2004 11:05:14 AM
From: seventh_son	Respond to of 39344

I didn't say that Venezuela was at the bottom of my list for geopolitical risk, but many view it or portray it as being less favourable. If I were to rank it myself, it would be ahead of Columbia, Russia or its former republics, most African countries, and about on par with China and South Africa. Maybe even higher than South African, whose gold companies are mostly valued far higher than Gold Reserve's comparing their properties. Of course there are also significant risks even in countries like Canada or the US. GRZ wouldn't be one of my top holdings if I thought the Venezuelan risk was overly large or unreasonable. The Economist puts Venezuela low in its country risk opinion polls statistics, but I admit that this only reveals perceptions, and not necessarily reality. Surveys have also shown that the vast majority of people who backed Bush in the election generally speaking did not have a clue at all what his policies really were on non-domestic issues or what was going on outside the US, and in fact their impressions and ideas on the area were mostly the total opposite of reality. One of the most ridiculous things I've heard on Gold Reserve was John Ing totally dismissing them (in albeit vague terms) because they are "American". He implied that people should buy Crystallex instead, as if Gold Reserve would be suddenly robbed of their titles or something because they have an office in the US. He did not mention that the Gold Reserve management is Canadian and that it has not even been listed on major US exchanges until last year. Yes, I agree that Gold Reserve is undervalued, and for some reason has not gotten the attention or respect it deserves, especially when one considers how Crystallex and Bolivar are valued when they have just as much geopolitical risk.

To: The Vet who wrote (32078)	11/5/2004 1:10:57 PM
From: Proud Deplorable	Read Replies (2) \| Respond to of 39344

Venezuela is still on everyones blacklist mostly because of the Crystallex boondoggle. How do I put this to you? GRZ lives in the shadow of giants like Fung (taught Peter Munk all he knew about gold) and PDG (through VVV) on the opposing side. The FACT is that things will NEVER work out in Venezuela for most companies and there are far better places to invest like the Philippines. You can throw the numbers around until you are blue in the face but no one in their right minds would invest in Venezuela and its not becuase of Chavez who is a GREAT leader. No, the problems are systemic in a corrupt court system. Hey anyone heard from Sosa Gomez the corrupt judge from 5 years ago? The Philippines will be the hot spot to invest in gold stocks in 2005. Those following recent proclamations from the government will know what I mean. I sold all my SUR for Mindoro (MIO) from Edmonton. From a recent news release: "Although Mindoro has received three unsolicited expressions of interest for joint ventures at Lobo, our preference is to fund drilling ourselves and retain for Mindoro shareholders maximum exposure to Lobo's potential resources. To this end, plans are being made, subject to financing, to undertake a major drill program on both the epithermal and porphyry copper-gold targets." stockhouse.ca At .25 cents the leverage is there. It's advisory board contains the following: Terry A. Lyons, B.Sc. (Civil Eng.), MBA Chairman, Northgate Minerals Corporation -------------------------------------------------------------------------------- Mr. Lyons has over 29 years experience in natural resources, manufacturing, real estate, merchant banking and corporate restructuring activities. In 1976 he joined Versatile Corporation where he held a variety of senior positions in strategic planning, budgeting and finance, mergers and acquisitions and project management. In 1986 he was appointed Senior Vice-President and presided over the restructuring of Versatile Corporation, now known as B.C. Pacific Capital Corp., which is an affiliate of Brascan Financial Corp. Mr. Lyons has been chairman of Northgate Minerals Corp. (TSX: NGX) since 1993 and was the Corporation's CEO until June 2001. Mr. Lyons is a Director and Officer of several public corporations including Canaccord Capital Corp., where he serves as Chairman of the Audit Committee and as a member of the Corporate Governance and Compensation Committee. He is Governor of the Olympic Foundation of Canada and is a member of the Advisory Board of the Richard Ivey School of Business at the University of Western Ontario. Mr. Lyons holds a B.Sc (Civil Engineering) and an MBA from the University of Western Ontario. R. Michael Jones, B.A.Sc., P.Eng. President & CEO, Director, Platinum Group Metals Ltd. -------------------------------------------------------------------------------- Mr. Jones has 17 years of experience as a professional geological engineer and has been involved with the raising of over $200 million for exploration, mining development and production. In 1986 Mr. Jones co-founded Glimmer Resources Inc. where he was later responsible for the discovery of the Glimmer Gold mine in Ontario. In 1992 he was appointed President of Cathedral Gold, and during his six-year tenure there ran the company's producing mine. Between 1997 and 1999 Mr. Jones served as Vice President of Aber Resources where he was instrumental in financing a $1 billion mining project. From 1997, Mr. Jones also served for six years on the Securities Policy Advisory Committee of the British Columbia Securities Commission. In 2000, he founded Platinum Group Metals Ltd. and continues to spearhead that company as its President and CEO. Concurrent to his role at Platinum Group Metals Ltd., Mr. Jones is also a director of Mag Silver Corp., a company he founded in 2003. Mr. Jones holds a B.A.Sc. in geological engineering from University of Toronto.