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Gold/Mining/Energy : Pangea Goldfields T.PGD
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To: timbouctou who wrote (1019)6/1/2000 11:42:00 AM
From: Enigma  Read Replies (1) of 1178
 
I did hear that rigs are hard to come by? I think this is a problem. The irony is that if a major were to come in it might have the resources to drill the hell out of Tulawaka -and prove up reserves in short order- witness AQP after the takeover. But it may not just be physical equipment in Tanzania - but also personnel?

As to Russ's point - I can see that a major might want to see more reserves before bidding - but agree too that with geological models assumptions can be made. The more the stock creeps up on drilling the better the end play for shareholders I think. I wonder who has been accumulating - funds on spec., or a major? There is no question in my mind that there has been steady accumulation over the last few months, and there never seems to be much stock around.
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