Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Dale Schwartzenhauer who wrote (132)	1/28/1998 4:53:00 AM
From: Michael Bidder	Read Replies (2) \| Respond to of 199

Conjecture Dale. In the absence of any hard numbers from Pgu, a friend and I have speculated the following. 16 mill cash at q4 97. -7 mill for care and maintenance Mt Todd. -3 mill incidentals (short term debt, dynamite, equipment etc.) This left 6 mill which was used up at a rate of $100,000 day for 60 days. To leave them with the new 16 mill allowed them by the banks when they closed the hedge and took the balance. I alocate this final 16.7 mill in the following manner. Pension Payments: 50,000 per employee severance x 295 emploees = 14.75 mill This leaves two mill if there are no surprise costs, (unlikely). At a rate of loss of $100,000/day (both mines open, gold at 300) I make a very crude estimate that the company can last 20 days from the time of the last press release.