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Gold/Mining/Energy : Pegasus Gold (PGU) hits 52 week low
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To: Gerry Schechter who wrote (44)11/24/1997 1:28:00 AM
From: Dale Schwartzenhauer   of 199
 
Gerry: I believe those forward sales are part of what is called the hedge portfolio. It does represent some excellent value, but whether it's enough is another matter. I've understood the Montana Tunnels is a very state-of-the-art milling complex, capable of sustained throughput of 15,000 tons per day. A new property under acquisition from Newmont will add 1 million ozs of potential production. I think this could save the company and pave the way for future growth. I became inadvertantly long some calls, so I'm somewhat biased, and I also traded the stock as a broker years ago. But I don't think that is blinding me to the possible recovery versus liquidation threat.

Dale
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