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 (461)	11/8/1999 10:32:00 AM
From: timbouctou	Read Replies (1) \| Respond to of 1178

The real specialists familiar with the geology of this part of Tanzania and more specially of Bulyanhulu, Tulawaka etc.. (i.e. those people working for or with the majors) do appreciate the unfolding quality of "our property" in Tulawaka, better than brokers or the investing community at large. So I am not worried that the price the property will reach, when bought, will be (floor price)in the area of US $50/60 an ounce (I have heard C $100/oz). The overall transaction price will then be determined by the number of "ounces negotiated" between the buyer and the seller(a new "category" : proven, probable, inferred and "negotiated"). I strongly believe that PGD/MDN have to do a better job at demonstrating to research people within brokerage firms that this $50/60 price is not a dream number coming from the imagination of self improvised specialists: IT IS A MARKET REFERENCE (Samax, Sutton and more recently bid for Ashanti's Geita). Brokers and researchers should be sensitive to MARKET REFRENCES. So if they could make this demonstration along with explaining what the published drilling results means (they are constrained by tight Stock exchange rules in their communiques), the value of the shares (both PGD and MDN) will start rising substantially. On the drilling program: I think that they should expand drilling ASAP and also make the announcement ASAP. They should investigate the property on many fronts simultaneously, which implies more money, of course. Given the results achieved so far, I am sure that money will pose no problem. PGD has the cash in the bank and MDN will have investors (may be majors) knocking on its door to provide financing. I also agree that a first resource calculation will be published this year (December?). Mind you, it will ONLY be a first resource calculation. I do not think that they will have to spend nearly as much as Sutton did on its property or drill as much as they did, before being bought out. It is a question of weeks (my wish) or months (reality?). What is more important than the timing is the price. I am willing to wait, knowing that the wait will not be that long: One of the majors will start the bidding process.