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Gold/Mining/Energy : Pangea Goldfields T.PGD
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To: salva who wrote (307)10/19/1999 9:55:00 AM
From: Terry Swift  Read Replies (1) of 1178
 
salva:

If Barrick wants them, they will have to buy them from Pangea. Pangea may JV them with Barrick but they won't sell them to Barrick. Under the JV agreement, if Ashanti defaults (which is very likely, at this point) the properties revert back to Pangea. They cannot be sold by Ashanti. According to Bill at Pangea, Ashanti is already, technically in default on these properties. Pangea is waiting to see how the Ashanti mess shakes out before taking any action.

Terry
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