Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Pangea Goldfields T.PGD -- Ignore unavailable to you. Want to Upgrade?

To: salva who wrote (342)	10/23/1999 1:49:00 PM
From: Enigma	Read Replies (1) \| Respond to of 1178

Re: BS Unlikely that property can be dealt with in any way without PGD's permission - impossible I'd say. Terry you spoke of Ashanti having to spend $4 million by Oct 1, 2000 - somewhere else I saw $7 million?

To: salva who wrote (342)	10/23/1999 3:21:00 PM
From: LaFayette555	Read Replies (1) \| Respond to of 1178

Salva I agree something was up with MDN yesterday.. and PGD itself did quite a turn around on Thursday and Friday.. this price action would indicate some developpement in the affairs of the co's.. news release maybe soon ???

To: salva who wrote (342)	10/30/1999 1:55:00 PM
From: Terry Swift	Respond to of 1178

salva: I was out of town on a business trip all last week so have been out off the net and out of touch. Pangea has told me that if Ashanti defaults, the properties revert to them and they then control 100% of them. I take that to mean a swap is not possible without Pangea's OK. Since the POG environment has changed significantly since Pangea entered into the JV agreements with Ashanti, I would think they could get a better JV arrangement (especially with Barrick for BS) for both properties if they get them back and JV them with someone else. Personally, I would prefer that Pangea get the properties back if they have any right to do so. I believe that even if Ashanti manages to survive, it will not be the company it was; it will be much weaker and will be under tighter controls by its "resucers", epecially Ghana. I see no scenario under which Ghana will give up any of the mine there. It is Ghana's largest employer, by far, and dominates its local stock exchange. Its effect on the Ghanian economy is huge and Ghana, quite understandably, sees it as a national economic and security issue. IMO, they will keep very tight control of that mine; nationalizing it if they have to. Any deal for Ashanti will have to go through Ghana. With Ashanti a much weaker (and probably smaller) company, I would prefer the Pangea properties be JV'd with someone else. Terry