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

To: Enigma who wrote (1018)	6/1/2000 10:28:00 AM
From: timbouctou	Read Replies (2) \| Respond to of 1178

Slow burn rate... I noticed too. I would have thought that they would have gone full steam ahead on drilling both on Tulawaka and on their other properties. This would be an excellent question to ask at the annual meeting. Saving money is not an issue here, on the contrary. Is it because of unavailability of rigs? I think that the company that that did the drilling is controlled by Barrick. Are there other rigs available from other sources?

To: Enigma who wrote (1018)	6/1/2000 10:43:00 AM
From: russwinter	Respond to of 1178

I'll be the first to admit that I don't have a clue how these stocks trade. You are correct that drilling results are ignored. Look at GBG. I see where Cumberland (CBD) announced what appears to be an entire new zone at Meadowlark this morning and the stock trades flat on 1,000 shares. I call these companies "undiscovered gold discovery stocks" (an oxymoron if there ever was one). With that caveat, I just don't think PGD is ripe for a takeover yet. Others may be making that bet short term, but to me the drill results will be what counts now. I'm sure transactions are being discussed in these boardrooms, but no doubt the assumptions are hard to pin down. Do they use $275 as the price benchmark, $300, $325, or even $250. Makes a huge difference in the transaction price. Are they blueskying the ounces to reflect likely additional finds? Still too many pieces of the puzzle left to fill in I believe. There needs to be a major deal somewhere to set a standard, and a major needs to pay up to help revitalize the junior sector (who they depend on for new deposits). Tan Range: Besides the SW corner reef, there is another one to the north called Horseshoe that so far has been the most promising.