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Gold/Mining/Energy : Gold Price Monitor

GDXJ 104.50

-2.0%

4:00 PM EST

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To: long-gone who wrote (55879)	7/7/2000 11:56:08 AM
From: Enigma	Read Replies (2) of 116798

As a Pangea shareholder I can only hope Au is topping the Barrick cozy friendly deal - unlikely IMO but Au seems to have been outmanoevoured in Tanzania by Barrick. Pangea is a big prize for Barrick and Au would liklely be outbid - in a bidding war - but might like to see its rival have to ante up another $50 - $100 million. The trading in PGD is fascinating - all at $6.85 or $6.90, a little at $6.95. Barrick is either taking stock at under its offer price or the arbs are accumulating in case of another last minute bid from Au - as the most likely player. On the sell side the sales are completely orchestrated - first one broker makes multiple sales then another - which make me think Barrick is the buyer and its fiscal agent knows exactly where all the stock is.

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