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Gold/Mining/Energy : Pegasus Gold (PGU) hits 52 week low -- Ignore unavailable to you. Want to Upgrade?

To: Dale Schwartzenhauer who wrote (53)	11/25/1997 2:35:00 AM
From: Michael Bidder	Read Replies (1) \| Respond to of 199

Right Dale. I will only make discreet inquires to IR. , no one else . Thanks for the caution. I suppose management really have there hands full with the reclamation bond holders and the banks at this point. It may turn out differently as you point out. Here is some news from some other individuals. As always take it with a shaker of salt. Pegasus Gold Inc PGU Shares issued 41,201,390 Nov 21 close $1.49 Mon 24 Nov 97 In the News The Globe and Mail reports in its Saturday, November 22, edition that a dismal third quarter earnings report prompted HSBC James Capel Canada analyst Tony Sutton-Pratt to issue a "sell" on Pegasus Gold. The Globe's Investor Alert column says that late last week Pegasus released its third quarter earnings, which included a loss of US$432.8 million compared with a loss of $7.8 million a year earlier. Its revenue for the quarter was $77.9 million, compared with $66.4 million a year earlier. Pegasus is also planning to close its Mount Todd mine in Australia and wrote that asset down by $353.3 million. The enormity of this setback for Pegasus can hardly be overstated, says Mr Sutton-Pratt. Pegasus also took further writedowns in the third quarter of $68 million. As a result of the writedowns Pegasus said it is in default on certain restrictive covenants on a $150 million revolving credit facility, but depending on the actions of its creditors it has sufficient cash reserves to operate through 1998. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Regards -michael