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Gold/Mining/Energy : Royal Oak-RYO -- Ignore unavailable to you. Want to Upgrade?

To: Mike G who wrote (1157)	8/6/1998 2:37:00 AM
From: Michael Bidder	Respond to of 1706

Mike its time for you to see the ugly reality. SPOKANE, WA., Aug. 5 /CNW-PRN/ - Pegasus Gold Inc. (PSGQF - OTC B.B.) recorded a net loss of $10.4 million, or $0.25 per share, in the second quarter of 1998, compared to a net loss of $3.2 million, or $0.08 per share, in the second quarter of 1997. The year-to-date net loss was $20.4 million, or $0.49 per share, compared to a net loss of $3.2 million, or $0.08 per share, in the same period of 1997. The increased loss for both periods is due to lower gold production, lower realized gold prices, and charges for reorganization items. Michael Bidder.

To: Mike G who wrote (1157)	8/6/1998 2:40:00 AM
From: Michael Bidder	Read Replies (1) \| Respond to of 1706

And this: Reorganization for Pegasus Gold Inc., Pegasus Gold Corporation, and certain of its non-operating subsidiaries. The holders of common shares in Pegasus Gold Inc. will not receive any distribution in respect of their respective interests. Full link:http://biz.yahoo.com/prnews/980805/pegasus_go_1.html Michael Bidder

To: Mike G who wrote (1157)	8/6/1998 2:51:00 AM
From: Michael Bidder	Respond to of 1706

Ya see what I mean Mike. It just gets worse and worse. As the price of gold stays below the cost to mine it the situation in the company deteriorates. This translates to a drop in the stock price. Past a certain point (we are well past it) the company has ZERO chance of surviving. To you and I it means 100% loss of capital. I wish you would have trusted me enough to take my advice and read the financials. If you spent 3 hours reading through them with a pen and calculator and it saved you a $1,500 dollar loss that is still $500 dollars per hour. Not a bad savings! All is not lost Mike. The stock still has a bid above $0.50 cents. Not for long though. Asian markets are being rocked by bad earnings and gold has been falling with respect to the Hang Sang index. Michael Bidder.........Beginning to doubt your sincerity.