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

To: John Stopforth who wrote (165)	12/12/1997 2:02:00 PM
From: The Vet	Read Replies (2) \| Respond to of 406

John, I have speculated on that issue with a number of people close to Gold Reserve and I understand that management are aware that that could easily happen even though there is a shareholders rights poison pill in place. However the current halt seems to be due to news on the veta rights and logically a takeover before those rights were granted would be rather premature. If the veta rights are granted there will be a great temptation for a number of the majors to try a quick take over of GLR especially if the price does not rapidly recover. The gold that GLR has proven is available at a much lower price than the average of exporation costs and at no risk. On the figures I have seen the cost to find and prove up an ounce of gold is over $20 US, so GLR at these prices is a huge bargain.