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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (48783)	2/10/2000 12:43:00 PM
From: Enigma	Respond to of 116759

Barrick has a right of first refusal on Tulawaka not an option - an important distinction. In a sense it's academic for Pangea - because it would not sell this property, unless it was an offer it absolutely could not refuse. They are racing to a full feasibility report. If Barrick bids PGD can turn it down - Barrick would still have the right to match subsequent bids from other parties. IMO if anyone wants Tulawaka they'll have to take over Pangea. ABX has a head start with 4.6% and a option (warrant) on another 2% for 2 years @ $6 - but it is not insurmountable. The bidding for Ashanti's Geita project will be fierce with 5 parties reputed to be bidding, including Barrick and Anglo.