Fagan says new focus could boost share price
Peruvian Gold Limited PVO
Shares issued 14,227,466 Sep 9 close $0.45
Thu 10 Sept 98 In the News
Brian Fagan, writing in the September 1998 edition of the Fagan Report
(dated Aug. 28), says Peruvian Gold may be worth buying in light of its
strong cash position, low price and "great upside potential." Mr. Fagan
says Peruvian had its day in the sun in 1996, when it traded as high as $7.
In September 1996, it completed a financing at $4.50, netting the company
$13.5-million. With gold as a focus, Peruvian drilled and drifted its way
down to its current level of 45 cents. Along the way, it attracted the
attention of Robert Atkinson, who bought 18 per cent of the company at
around 85 cents in November 1997. At the time, he made it clear he did not
think the company should be spending its treasury -- now at $11-million --
the way it had been used to. Mr. Atkinson and his interests now make up 50
per cent of PVO's board, Mr. Fagan writes. "I expect to see some changes in
PVO's focus," Mr. Fagan says, adding more selling pressure could take place
before any new direction is made clear.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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