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

To: Michael Bidder who wrote (97)	1/16/1998 2:54:00 AM
From: Dale Schwartzenhauer	Read Replies (1) \| Respond to of 199

One more tidbit I picked up on Montana Tunnels: there appears to be some pit caving if my source is accurate. So there are geological problems now in addition to the known financial ones. The deposit they were negotiating to purchase from Newmont is a dead deal as PGU can't afford to acquire a development property for future millfeed. This was previously the Santa Fe property estimated at 8 million tons grading 0.12 oz/ton. As the future of the Company is up for grabs, what would've been a good acquisition goes by the boards now. I have to agree that this stock has no market play, and there are many others that do without the survival risk. It's enough to make an educated guess on the direction of gold prices without having to worry whether your vehicle will survive to participate. Even on a good day like today (POG + $4), PGU went down. If it can't rally on an up day (XAU + 5%), what are the chances overall? Dale