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Gold/Mining/Energy : Pangea Goldfields T.PGD
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To: Terry Swift who wrote (308)10/19/1999 12:38:00 PM
From: salva  Read Replies (1) of 1178
 
Good info Terry. If so then it would not surprise me if Pangea just keeps the 'defaulted' JV'd Ashanti properites and intice Barrick to come and buy Pangea alltogether.

As the results of drilling confirm (my speculation)that Tulawaka is as good as if not better than Sutton findings--and at the low cost of extraction--(look at results released to date for clues )-then it will become irrestibable for Barrick not to make a takeout bid.

The problem right now is that the Ashanti/Cambior 'mess'
is making majors concentrate on these assets and for that matter 'other' assets of other 'like' ashanti's that may be in turmoil-but that you and I and the street dont know 'officially'.

So we have a stall here - until things clear up a bit.

But values of PGD and MDN will move up smartly as the
drill results confirm the quality of the AU reserves that are in (the same) geology minersalizations that are around the whole area in Lake Victoria--(Samax and Sutton discoveries!)

Am a little puzzeled why drill results taking a long time
to come out (G. Ridge & Tulawaka)-guess its has to do with the impact of 'mess' scenario thats making PGD delay.
Maybe 'bill' could elaborate more on this (trutfully) to you!
This prospects that almost all properites are super rich
in the Lake Victora area (tanzania) has been my 'hunch' feelings since I came accross this
play over 2 yrs ago!!!

Apart from the ones that have been eaten up already
(Samax / Sutton) the only ones left are PGD- MDN.

Thats the way I see things.

-JHHO
rgds
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