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Gold/Mining/Energy : Pangea Goldfields T.PGD -- Ignore unavailable to you. Want to Upgrade?

To: salva who wrote (190)	3/24/1999 8:51:00 PM
From: LaFayette555	Read Replies (1) \| Respond to of 1178

To: Elmer Anthony (0 ) From: 108 Tuesday, Oct 27 1998 11:03PM ET Reply # of 5 Regarding the recent strength in Pangea, I believe it is a product of the knowledge within the Tanzanian and South African gold mining community of the unusual nature of the result announced for the Tulawaka property in the outer ring Greenstone Gold Belt of Tanzania. There are two regions of the Tanzanian Greenbelt gold area. They are known as the inner and outer rings. The inner ring is known for low tonnages and high contained gold values. The outer ring is known for high tonnages and lowcontained gold values. Tulawaka which is 60%Pangea and 30% Minieries Du Nord is in the outer ring and we can expect high tonnages low contained gold values. However the results so far announced by Pangea for Tulawaka are very high values. It is reasonable to expect high tonnages as well. These results of high gold values for Tulawaka is most unexspected and unusual. This can be compared in a sense to the Bulyanhulu property of Kahama Mining Ltd. Bulyanhulu is an inner ring property with the exspected high values but also with high tonnages. So far an outstanding 7,700,000 ounces has been defined but much more is exspected by the South African metals industry. South African opinion is that Bulyanhulu is three sisters with a common parent. If so Bulyanhulu is three reefs vertical connected by a horizontal enrichment at depth. That would have a major impact on the ounces. Is Tulawaka another Bulyanhulu? Some very informed people believe it is and are buying. A gold rush has started in application for surrounding property to the Tulawaka. Technically speaking the long term Downtrend in stock price has broken upwards on the Pangea. Lots of overhead resistence but it reads a test of the old high over time. Ditto on the Minieries Du Nord MDN on the Montreal Exchange. Since both are moving it is reasonable to attribute to both the same reason for moving. That is because of the similar property they hold in the Tulawaka.