Gold Reserve, Inc. (AMEX:GRZ)
A mining company exploring and developing hard-rock minerals with its subsidiary in Venezuela.
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did not do too much research on this one.
Recs
GOLD, CHEAP STOCK, POOF-PROOF, DECENT GEOPOLITICALS, LOTS OF ROOM FOR RAMPED UP PRODUCTION AND LIKEWISE EPS. WE DON'T USUALLY LIKE PM MINERS, BUT THIS ONE I LIKE.
Recs
Gold Reserve has the rights to mine one of the largest gold/copper reserves in Venezuela, at "Brisas" .
They expect to be able to mine out some 456,000 ounces of gold at a very low operating cost $126 per ounce because they will subsidize the cost with the copper (of which they expect to pull some 60 million lbs. per year). As te price of copper and/or gold increase, the numbers get better.
IMO, this is an opportunity to get in during the early stages of a "gold mine", literally. The stock price is currenty down as gold has had an extended selloff and the stock is digesting a stock offering...good time to pick up some shares in the $5-6 area imo.
Recs
Just got the permit and VZ gov uncertainty will soon disapate
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