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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Louis V. Lambrecht who wrote (20218)	11/16/2004 9:52:51 PM
From: The Vet	Read Replies (4) \| Respond to of 313061

Gold Reserve is the cheapest. Sooooo cheap I start to wonder. I have been long GRZ for years and have checked out virtually all that I can find on the company. It has been around for a long time, management are conservative and sound and they own 15% of the company so their interests and the shareholders are closely aligned. At $16 a P&P ounce and projected cash costs of abut $110 an ounce (net of copper credits) their 9.1 million P&P ounces is the greatest bargain available IMO. The low valuation is a combination of history (Brisas was deemed uneconomic at $300 gold and 80 cent copper) and the fact that some dislike Venezuela. However other mines in Venezuela have quite rich valuations so that's hard to justify... But by all means don't buy down here under $5 if the low price makes you suspicious... We will need buyers when it gets over $20 and by then the excuse "I won't buy because it is too cheap" will have vanished... Good luck to you...