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

To: vince porter who wrote (308)	3/26/1999 2:58:00 PM
From: Syncrude	Read Replies (1) \| Respond to of 406

Gold Reserve still has to go out and sell shares as well as borrow significant amounts of capital AFTER final feasibility is completed. Placer Dome is actually only getting back to the design stage and placing orders for equipment which will take several months to arrive. As well Placer Dome has NOT announced if/when it's contract-of-work will get converted to a mining concession. There is still a matter of another party actually owning title to Las Cristinas 4&6. Look for more developments in Venezuela. Remember that Gold Reserve was long rumored to be a takeover target for Placer Dome. Since Gold Reserve announced it was going at it alone, perspectives for Gold Reserve are not as robust. The low grade deposit is not as attractive considering the current and projected prices for gold.