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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
PIEDMONT MINING COMPANY, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
720172105
(CUSIP Number)
MARCH 15, 2000
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ X ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 4
<PAGE>
CUSIP No. 720172105
1. NAMES OF REPORTING PERSONS:
U.S. Global Investors (Guernsey), Ltd.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
00-0000000
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ ]
(b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION: Guernsey
NUMBER OF 5. SOLE VOTING POWER: 2,270,000
SHARES
BENEFICIALLY 6. SHARED VOTING POWER: 0
OWNED BY
EACH 7. SOLE DISPOSITIVE POWER: 2,270,000
REPORTING
PERSON WITH 8. SHARED DISPOSITIVE POWER: 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON: 2,270,000
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11) 13.20%
12. TYPE OF REPORTING PERSON OO -- Investment adviser
governed by Guernsey law
Page 2 of 4
<PAGE>
ITEM 1.
(a) NAME OF ISSUER: Piedmont Mining Company, Inc.
(b) ADDRESS OF ISSUER'S
PRINCIPAL EXECUTIVE OFFICES: Amster Yard
211 East 49th Street
New York, NY 10017
ITEM 2.
(a) NAME OF PERSON FILING: U.S. Global Investors (Guernsey) Ltd.
U.S. Global Investors (Guernsey) Ltd. is a
wholly owned subsidiary of U.S. Global
Investors, Inc.
(b) ADDRESS OF PRINCIPAL
BUSINESS OFFICE OR, IF
NONE, RESIDENCE: Roseneath, The Grange
St Peter Port
Guernsey GY1 3NQ
(c) CITIZENSHIP: Guernsey
(d) TITLE OF CLASS OF
SECURITIES: Common Stock
(e) CUSIP NUMBER: 720172105
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR
240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with ss.240.13d-1(b)(1)
(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
withss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
withss.240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance withss.240.13d-1(b)(1)(ii)(J).
Page 3 of 4
<PAGE>
ITEM 4. OWNERSHIP.
Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.
(a) AMOUNT BENEFICIALLY OWNED: 2,270,000
(b) PERCENT OF CLASS: 13.20%
(c) NUMBER OF SHARES AS TO WHICH THE PERSON HAS
(i) SOLE POWER TO VOTE OR TO DIRECT THE VOTE: 2,270,000
(ii) SHARED POWER TO VOTE OR TO DIRECT THE VOTE: 0
(iii) SOLE POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF: 2,270,000
(iv) SHARED POWER TO DISPOSE OR TO DIRECT THE
DISPOSITION OF: 0
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [ ].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of
my knowledge and belief, I certify that the
information set forth in this statement is
true, complete and correct.
April 11, 2000
-----------------------------------------
(Date)
/s/ Frank E. Holmes
-----------------------------------------
(Signature)
Frank E. Holmes
Director, U.S. Global Investors (Guernsey)
Ltd.
Chief Executive Officer, U.S. Global
Investors, Inc.
-----------------------------------------
(Name/Title)
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001)
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