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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 (93)	1/15/1998 2:14:00 AM
From: Michael Bidder	Read Replies (1) \| Respond to of 199

Dale I have done a lot of work on this on with my cousin who does the accounting for our firm. It is bleak indeed. The main cost of the imminent closure of Florida Cannions is the severance package that must be paid to 295 worker. I have no idea on a number. IT WILL BE CLOSED SOON. This is my opinion of course but all indications are very strong that this will occur. It has to. The company must try to conserve remaining capital. I think when a stock reaches such a low price as this one it becomes sort of unreal. Its .65 cents because it is and that's all. Montana is not worth the 220 million the company owes. So shareholders get nothing. BTW I think the stock is BOXED! See the unreal trading patterns on the AMEX. Choked on the bid and ask and then very little trading. Also unreal moves of the bid. Mystery to me? Best to you Dale, -Michael