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

To: Syncrude who wrote (205)	12/17/1997 2:23:00 PM
From: The Vet	Read Replies (2) \| Respond to of 406

Do the sums Patrick - even with the shareholders rights plan - Gold Reserves proven reserves are cheap. The rights plan only means an increase of 40% in the number of shares at a cost of 50% of the current price. A hostile buyer could just absorb that and it provides them with extra cash as the holders convert their rights. The rights plan would work to protect shareholders at a share price over $5 US but at the present prices the effect is diluted...