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Gold/Mining/Energy : Pangea Goldfields T.PGD

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To: salva who wrote (294)	10/14/1999 6:49:00 PM
From: LaFayette555	Read Replies (1) of 1178

Comments on ABX conference call today: "Barrick paid C$525 million earlier this year in a friendly takeover of rival Canadian miner Sutton Resources Ltd., which gave it control of the prized Bulyanhulu gold deposit in Tanzania. Barrick's acquisition of Bulyanhulu, East Africa's largest gold property, occurred at a time when gold was trapped in a devastating two-year downdraft. Barrick said Bulyanhulu would eventually contribute 10 percent to the company's earnings.

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