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

To: Enigma who wrote (511)	11/18/1999 3:53:00 AM
From: Terry Swift	Read Replies (1) \| Respond to of 1178

DD: Poison pills rarely deter a determined suitor and I don't expect Pangea's would be any different. You are right in that what their primary purpose is, is to buy the company some time. I believe its more than 19 days, though. If memory serves, it's at least 30. I seem to recall that Arequipa had 30 (possibly more) days to decide whether to accept Barrick's C$30.00/share offer. Initially, they appealed to the stockholders to give them another few weeks to do additional drilling because they were quite certain, from the mineralization, there was more gold than the resource calculation indicated and they wanted more time to get out additional drill results which would have shown more gold; thus boosting the stock's value. Of course, events have proved how right Arequipa's management was, in that regard. I believe we would be in an identical situation with Pangea. A premature sale would undervalue the company. Terry