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Gold/Mining/Energy : Peruvian Gold Ltd. PVO -- Ignore unavailable to you. Want to Upgrade?

To: Andre Koluksuz who wrote (522)	4/7/1998 10:29:00 PM
From: Robert Dydo	Read Replies (1) \| Respond to of 892

I don't agree we that. 1. Bradstone doesn't want to own PVO. 2. They bought 2,634,500 shares lets say at 0.80 which is not true, because I believe they paid more, anyway that is $2,107,600 at 0.80. They would have to buy remaining 11,592,966 shares at 0.80 that is $9,274,372. Add those figures up=$11.381,972 PVO $ value 12.8M(which was on Dec 31/97 less trips to Romania, commissions to Goepel for investigations and so on) - 1M = 11.8M or less. 3. Bradstone wants call the meeting to take control of PVO and the money by majority of their votes(34%). If meeting will happen they will vote down the deal and Henstridge and supporters down with it( remember some 2.67%). Atkinson will become a president, he takes over shuts the exploration and takes money for whatever he is please. Your plan also doesn't fit because Bradstone should be buying shares now at lows eliminating expensive shares later. Before I said with 20% they would have to present official bid and my version holds;they are not willing to do so(PVO is not their goal). Goepel Shields buys it(121K today)so price will stay at 0.70 which is exactly 1.40 of GBU on the market. Goepel supports their client GBU. GBU shareholders is Albion which is over 70% of GBU on the market. Albion is F.Timis, so no revolt on GBU end. It is interesting what is going to happen but this is takeover and PVO managment has thought that over legally. It is hard to tell but I bought this company for their exploration efforts. If Gabriel's properties can hold 7M oz. including silver credits, the stock value would be $5 per share even with 62M shares outstanding(at this case another 5 to $8M on the top from GBU warrants). Deal may look bad but Doug post about Canaccord's scavenger list makes it somewhat attractive. Bradstone is after the money and its own interest which will be diluted as much as our but in that case their internal flip will be impossible to work(from 18% to 4.5% at best). As soon as Atkinson will get the wheel in his hands 34% will get their money but myself I don't think so. Shell status at best. I hate GBU deal as I think is too expensive, but I would go with it since GBU offers a suit in the future but Bradstone wants to take my last shirt. Robert