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

To: barry doment who wrote (258)	3/3/1998 4:55:00 PM
From: Syncrude	Read Replies (1) \| Respond to of 406

I think the market has answered the question for you already. It did not move. Note that the press release reported on the PRE-feasibility study. There remains work to be done to complete this study. The Company has stated that it is looking at ways to improve upon the project economics. As things stand right now, the project is a high cost one, so any increases in mineable reserves and reduced costs will be helpful. I understand that the application for veta rights may have run into some hurdles and this is probably what is holding the stock price down. I don't expect this to be resolved very soon as there are many things going on in Venezuela right now, including a new mining law in the works, contestation surrounding Imataca, etc.