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Gold/Mining/Energy : Pangea Goldfields T.PGD

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To: salva who wrote (280)	10/13/1999 4:33:00 PM
From: Terry Swift	Read Replies (1) of 1178

salva: I talked to Bill Cavalluzzo (Pangea IR) this morning. Pangea had hoped to get a release out this week on the drill results but it will now be next week. This release will contain what Pangea has been given to date from Barrick. Barrick has doubled the size of the drill program (from 10,000 meters to 20,000 meters) so this release will not mark the end of the results we will see from Golden Ridge. There will be more to come. As for any takeover, I think Pangea's joint ventures offer some measure of protection from Barrick, but only time will tell. The Ashanti mess has yet to be resolved and that could definitely have a bearing on who or whether those Ashanti JV'd properties are, in fact, JV'd. If Ashanti can't fulfill their part of the JV agreement, Pangea gets them back and would own 100% of them. They can then find another JV partner or drill the properties themselves. Lots of possible scenarios here. Terry

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