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: Dale Schwartzenhauer who wrote (48)	11/24/1997 2:01:00 AM
From: Michael Bidder	Read Replies (1) of 199

Dale, Yes I didn't mean to compare Friedland to Pegasus. Simply expressing frustration at IR that have no meaningful answers to stockholders who need them. Also I listened to the phone conference several times and there was no hint by any of the executive officers of a new mining operation. There was an expression of hope that the bankers would give latitude in order to stave off a Bankruptcy. Some of the questions at the end of the conference attempted to find out weather or not the reclamation bond holders would force a liquidation of the company as they are on the hook for the environmental liabilities. I am certainly concerned. 1) Using the numbers given in the conference total annual gold sales are insufficient to meet costs associated with care and maintenance of Mt. Todd and the ten million required to build a pad for Florda Canions. 2) Florida Cannion will be cash negitive for a full 12 months after the injection of 10 million to keep it open. Then the mine life will only be two additional years. There are also normal liability risks associated with the continued operation of the mine. Bottom Line: Bottom fishing could be risky Dale. -Michael

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