Pegasus Gold (PGU) hits 52 week low Message Board

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Gold/Mining/Energy : Pegasus Gold (PGU) hits 52 week low

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To: Michael Bidder who wrote (45)	11/24/1997 1:20:00 AM
From: Dale Schwartzenhauer	Read Replies (1) of 199

Newmont is dealing off this property because it isn't large enough for an organization of their magnitude. In addition, Pegasus already has the infrastructure in place to bring this property to production quickly. So it has a much better fit for Pegasus than Newmont. I understand your point with regard to Friedland, as he is simply a latter day Murray Pezim. These type of people are not operators but simply promoters; if they mine an ounce of gold at a profit it's a big surprise. I'm not sure the picture with Pegasus is as bleak as you paint it. I also think gold is at or near a bottom so the worst may be behind us in terms of price pressures. That still leaves some major maneuvering for this company to survive. Dale

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