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Gold/Mining/Energy : ECGOF: Anyone following this company?
ECX 1.800-6.7%Jan 30 9:30 AM EST
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To: Michael Anthony who wrote (202)3/25/1997 3:45:00 PM
From: david james   of 269
 
I get the feeling that there are a lot of people watching this one to see what it is going to do. Most everyone agrees that the stock is seriously undervalued and will 'pop' and some stage, but 'when' is the question.
After talking to the analyst at HJ Meyers, I am convinced that the companies biggest problem is that the information that shows this stock is seriously undervalued is not readily available. The lack of filings with the SEC makes it difficult to access the usual financials. The fact that the CEO has bought 300,000 at the current price is also not a fact that can be found on any of the sources that track insider activity.
Once the Annual Report is out, I am hoping the company goes to the trouble of updating many of the information sources that are out of date. It will also be interesting to see how many new people the PR firm can bring in to look at the company.
It is also not easy to discover that the earnings this year (around 20 cents each quarter) were with increasing numbers of shares each quarter. Earnings in $ had healthy growth. It will be interesting to see if anyone is surprised when ECGOF comes out with a 20% increase this quarter (25 cents).
This is a company with average growth over 80% and a p/e of about 9 and growth expected of at least 50% this year. I really don't see the downside risk here. And the upside potential is tremendous.
Personally, I like this style of investing. But everyone must choose their own.
Dave
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