Pangea Goldfields T.PGD Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Pangea Goldfields T.PGD

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Enigma who wrote (383)	10/30/1999 4:29:00 PM
From: Terry Swift	Read Replies (2) of 1178

DD: Pangea has told me that "technically, Ashanti is in default right now" so your comment on an annual obligation would be compatible with that. The $7 million required to be spent, in total, by Ashanti has an October 1, 2000 deadline. But that includes drilling, a bankable feasibility study, and arrangement of mine financing. Since Ashanti hasn't started drilling yet, I believe that deadline to be impossible to meet. It takes time to drill, put together a feasibility study and negotiate mine financing. I don't see how Ashanti could achieve that under the best of circumstances in 11 months. Given their current predicament, I believe their obligations to be impossible for them to meet on the two Pangea properties. Terry

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next