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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: aerosappy who wrote (23954)	6/18/2003 6:32:06 PM
From: Webster Groves	Read Replies (1) \| Respond to of 206325

Your second analysis on new book value of existing PGO common shares at .45 seems on the mark. Your previous analysis a few posts before assumes that 30% of the new PGO is worth only the 85 MM that someone will pay for it. Based on assets, 85 MM seems like a bargain. -wg

To: aerosappy who wrote (23954)	6/18/2003 11:31:02 PM
From: Fiscally Conservative	Respond to of 206325

This is crazy! Why then would the stock have a far lower value prior to this announcement and now after the announcement the stock runs. The way I see it,the existing shareholder gets fleeced. The investment bankers have managed to dip it in chocolate and wrap it in shiny paper and call it what it is;a treat? The value created is by duping the existing shareholders into paying more for a larger piece of the pie latter on and calling it a structured sound and viable co. Restructuring the debt with lower interests rates is one thing but doing it on the backs of shareholders is another. "hey boy,get your shine box and shine my shoes and btw,whatever your charging I'll pay less than half and you'll still be happy about it." What the heck am I missing here? The bankers make out. These guys get pay right away and guess who is paying them? What the heck,when one looks at YHOO's valuation I guess it all makes sense. in edit: just had another thought. The timing for the restructuring will be perfect (IMHO) The new stock should be trading just in time for the new year 2004 and the huge run into elections 2004.