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

To: Mr Metals who wrote (153)	12/2/1997 11:39:00 AM
From: The Vet	Read Replies (1) \| Respond to of 406

From information I have obtained from GLR the mining permits are not subject to court approvals; only government ministerial approval. The company is confident that they have had everything in place in respect to these approvals for some time and they have been "unoffically" told that they have fulfilled all of the conditions. The problem is that they do not have the "official" piece of paper, and until they do nothing can be considered certain. The Placer Dome, Crystallex issue is quite different and concerns ownership of their disputed lease and it has yet to be properly resolved. I am reasonably confident that we will get something on the veta rights before the end of this month, but that is only an unsubstantiated rumour from indirect contacts in Venezuela, so don't bet the bank on it..

To: Mr Metals who wrote (153)	12/12/1997 12:42:00 AM
From: Rob Fridfinnson	Read Replies (2) \| Respond to of 406

I'm having a hard time with rationalizing why I went long on this stock at $16.35Cdn and held it as long as I have, other than bad advice. Fact: 7.3mil. oz gold and gold equivalent including alluvial(10%) and deep rock rights.Grading 1.2 grammes/tonne gge(.88grams/ton).Approx.$72mil has been invested and another $253 mil of equipment is needed to process the amount of ore required to produce 400,000 oz/ au per annum. Breakeven, on initial investment only, with no interest expense,etc. would require a clear operating profit per oz of $45.00. Show me the mine that can produce au at today's pog with 1.2gr/tonne grading, let alone at a $45 profit. If someone out there knows some magic on this one, let me in on it and restore my faith.