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Gold/Mining/Energy : Pegasus Gold (PGU) hits 52 week low
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To: Jonathan P. Myers who wrote (25)11/15/1997 7:25:00 PM
From: GOLDIGER   of 199
 
Dear John,

"As a result of this writedown, Pegasus, the company is in default
of certain restrictive covenants," Pegasus said.
The company is in talks with its lenders and is working
with restructuring specialists to find ways to survive low
gold prices.
Creditors, however, could put the company out of
business, it suggested. "Absent adverse action by its
creditors, the company has sources of liquidity to continue
planned operations through 1998."

Not a good sign for the whole industry.

GOLDIGER.
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