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Gold/Mining/Energy : PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book
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To: Bruce Robbins who wrote (68)3/17/2002 8:30:04 PM
From: Jon Matz  Read Replies (1) of 86
 
Bruce, I still have a few shares bought in 1997, help me understand the value here. Even with the $20 mil, they are still going to be over $40 mil in debt right?

If this part of the year end statement is what is happening, what is Philex share per share going to be based on the current resource?

"As a result of the sale, the Company's equity in the project has been reduced to 50%. Should Anglo at its sole expense bring the project through a bankable feasibility study, Anglo would be entitled to an additional 30% equity either directly or through a joint venture with a qualified entity, and will conduct the operations if the project proceeds to development."

Is Philex going to get 20% without spending another dime?

Thanks, Jon
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