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 (138)	2/2/1998 4:56:00 AM
From: Michael Bidder	Read Replies (1) of 199

What a shame! <<Unfortunately, the debt load this company carries will likely preclude any significant price gains; it's just too much debt,... >> Actually the debt Dale precludes this companies survival. Amex and Toronto exchanges were correct in delisting them. Montreal is in error. This company does not meet the minimum listing requirments. It will not be around in 100 days. I have had to extend my survival estimate because the company hid assets before applying for court protection. Instead of 16 mill in cash as reported the company had additional 13 million in an usettled hedge position that must have escaped the notice of the Banks. I bet they are ..ssed off. Give the company a few months to burn through the cash. When the court lifts chapter 7 protection in 100 odd days the creditors will sell the assets as they are now trying to. P.S. I grossly underestimated the companies loss per month. I still can not get this number from IR.

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