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Gold/Mining/Energy : Pangea Goldfields T.PGD
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To: Harold Lehman who wrote (322)10/20/1999 11:16:00 AM
From: Terry Swift  Read Replies (1) of 1178
 
Harold:

You're right on regarding what Ashanti has to spend by 10/1/2000. They've spent $1 million thus far, according to Pangea. IMO, they won't make it.

I haven't asked Pangea whether Ashanti has the right to sell their interest in those properties; however, in discussing it with Pangea, I was advised that Pangea will get those properties back if Ashanti cannot fulfill its obligations; i.e., spend $7 million by 10/1/2000.

Regards,
Terry
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