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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: mimur who wrote (587)	9/22/2005 4:22:25 PM
From: seventh_son	Respond to of 78427

The funny thing is that Hecla has not been hit very much. The stock is actually much higher than it was in mid-August. I had some Gold Reserve, sold half on yesterday's rebound, and the other half today. Only time will tell whether that was wise. It's is impossible to say what is going to happen -- so many angles to this one. I have been worried for a long time thinking that Gold Reserve is vulnerable for having held on to their property for so long without moving to production. True, they have been busy drilling, waiting on permits, etc, and have not gotten the final environmental permit they requested, but there is still a petty excuse for expropriation that could be used or at least threatened in forcing unfortunate changes to their operating plans and agreements. The true situation in Venezuala's Bolivar state is not one of exploitation by imperialist multinational mining companies, but rather poor illegal miners coming in, many of them from Brazil or elsewhere, recklessly digging up property they have no claims to and polluting the environment with the mercury that they use to extract the gold. It is possible that the rhetoric about multinationals is used as an excuse to exert forceful state control on the mining lands, which in turn is intended to clean out the bandit miners who are there. Whatever is going on looks to be part of a broad plan on the part of the government. While it is only a possibility that Crystallex or Gold Reserve might have their properties stolen, the government looks at least like it is going to play hardball in negotiations and will likely not allow the companies to make the huge profits that all the risk of being in Venezuala is being weighed against by those holding shares.