PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book Message Board

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Gold/Mining/Energy : PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book

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To: Jon Matz who wrote (79)	3/18/2002 6:38:12 AM
From: Bruce Robbins	Read Replies (2) of 86

Even with the $20 mil, they are still going to be over $40 mil in debt right? From reading the balance sheet, it looks that way to me too. The bank debt gets paid in full but they have other larger liabilities. I have not gone through the exercise of what the per share value is as I am not a shareholder. I will attempt it and get back to you. Is Philex going to get 20% without spending another dime? No. They will still have to buck up some $$ (20%) according the next line in that paragraph: In such a situation, Philex Gold will be required to raise its pro-rata share of the project funding while Anglo would provide 100% of the completion guarantees that may be required by third party lenders.

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