My Take clients have asked me about Pegasus Resources, so when the CEO tried to pitch me, I invited him to step In The Pit with me to make his case in public. As usual, I didn't hold my punches—but he turned the tables on me at one point, correcting a mistake I made. That did change my understanding of what the company is up to… but was it enough to make for a compelling investment? See what you think.

Reminder: I do not accept payment from issuers. I do these interviews free of charge to cover stories of interest to my readers. These interviews should not be seen as recommendations or endorsements. I try to ask the hard questions any investor should ask, but it's up to each of us to give careful thought to what to make of the answers. (No arm-twisting, but we do cover companies I interview in My Take.)