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Gold/Mining/Energy : Pangea Goldfields T.PGD

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To: Terry Swift who wrote (525)	11/22/1999 10:52:00 AM
From: Robert	Read Replies (1) of 1178

I think you should consider the current climate for juniors. It is prudent to raise cash for future exploration. Empty coffers imply that takeovers become inevitable. There is no guarantee about ever developing a mine on the JV properties with Barrick. Also, pr-feasibility studies can take up to 2 years. PGD also has other properties to consider, and cash is King. I also wouldn't over state the Barrick commitment. For Barrick, this is small change. They do this with lots of companies (eg Pacific Rim), and it doesn't imply that a mine will ever be in the cards... Robert

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