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Gold/Mining/Energy : Pegasus Gold (PGU) hits 52 week low
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To: Dale Schwartzenhauer who wrote (43)11/23/1997 4:02:00 AM
From: Michael Bidder  Read Replies (1) of 199
 
Investor Relations that do not have answers spells big trouble. I remember the summer of 96 I was In Vancouver in Robert Friedlands office near the Pacific Hotel. The IR for Armada was a very young and pretty girl who confided in me that she was on the job only two weeks. She was incapable of answering questions whose answers could be found in a two page summery of the Investor Package. In hind sight I can see that Robert Friedland was no longer concerned with this play. The Stock subsequently dropped to pennies from 6 dollars.

Thanks for the offer of specs on the other property. I'm not interested. If Newmont passed it over then I don't suppose the creditors could be persuaded to finance it. In light of the money
they have already lost in PGU.

It would make sense to let the shareholders take the loss on this one and buy stock in a debt free unencumbered company with great management to vend this "miracle property into it and run
the stock. This would be the best way to recoup lost value. You and I would be left out of the profit but the creditors would have a better chance of profiting and avoiding environmental liabilities.

Can you think of any other ways to avoid a Bankruptcy ? Things have gotten into an frightfull mess. Regards Michael
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