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Gold/Mining/Energy : Pangea Goldfields T.PGD

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To: Terry Swift who wrote (279)	10/13/1999 12:40:00 PM
From: salva	Read Replies (2) of 1178

Hello Terry and Francois: My research says drill results are expected out this week-and anticipation is that they are GOOD..(cannacord buying) Have been following the Cannacord relentless buying- Believe they 'may be buying for a big player?'- maybe intituitional- could also be a major- Story in the Post today suggests that Barrick 'with its $US500 million 'is in no hurry. I dont agree- With both Golden ridge AND Tulawaka AND Kenegele proving to be GEMS -they surly are looking over thier shoulder wondering who could make a hostile bid. Remember what Oliphant indicated in the CNBC interwiew (two weeks ago)----about TANZANIA-- My interpatation is that Barrick wants to be a BIG player in Tanzania- and they wont be able to do it with only the Sutton purchase- they will have to buy others! Granted that Ashanti and Anglo gold are 'spent' for different reasons- they may not be suiters --for now-- for Pangea--But what about Newmont, Placer Dome and others who may be 'healthy' after the Hedge mess clears a bit? We may see some surprises develop. So Barrick after looking around for some 'wounded bird' (a la Ashanti) to buy- if they dont find any will take out both MDn and PGD!!! with $$$ and Barrick shares!! Know Terry that you believe that Barrick wont touch companies that have many JV's and that barrick cant have complete control over-- Respect your opinion - but nothing stops Barrick from selling off other 'unwanted properities' or swapping with other majors 'un wanted properites! My speculative opinion only rgds salva

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