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Gold/Mining/Energy : Greenstone (GRERF) -- Ignore unavailable to you. Want to Upgrade?

To: Andrew who wrote (120)	11/24/1998 12:04:00 AM
From: Elizabeth Andrews	Read Replies (2) \| Respond to of 138

I haven't looked at this in detail because gold producers are of little interest to me as they do not have the leverage that turns me on. Greenstone, however, is interesting right now as it appears the properties could produce 400,000 ounces per year. That should give it a market cap of somewhere around C$200 million and the price is a long way below that. There must be some problem that is not obvious at this time. Has there been any insider buying? What has the underwriter (s) been doing? Has there been any unusual problems on the properties? Stuff that the company could use to divert attention from the real problem? The problem with owning any producer is that you have to visit each property and do your work from the ground up, so to speak. Takes time to be right on things like GRE. My guess is that there's some other problem than the POG and the fact that GRE's management has yet to hit a forecast and have little credibility.