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Gold/Mining/Energy : Pangea Goldfields T.PGD
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To: Jidamo who wrote (1172)7/21/2000 1:47:58 AM
From: terryswift  Read Replies (1) of 1178
 
John:

I think Barrick is trying to steal the company, too, but that won't change the situation if nobody else comes in with another offer. I would say the odds of that happening at this point are slim and none... and slim left town.

If Barrick gets the 66.6% of shares needed to complete the takeover, those shares that are not tendered will be hanging out there in limbo and you had better be prepared to see their market value plummet after Barrick's tender offer expires.

If another offer is not made by the 25th, my shares will be tendered. I don't intend to be part of a minority ownership in a company owned by Barrick that may or may not have its properties developed over the next few years. Barrick's development timetable for PGD's properties will be much longer than was PGD's. With Barrick holding a very large majority of the shares, you can't even be certain they will continue to list the stock for public trading. Presumably, they could have it de-listed. Good luck.
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