T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: marcos who wrote (565)	6/21/1999 4:55:00 PM
From: keith massey	Read Replies (1) of 5053

Just got off the phone with Mr. Staudt. This was the first time I have had the pleasure of talking to Mr. Staudt. Although I didn't get any new information my comfort level has been increased knowing this gentleman is on our side. Very well spoken individual. The main questions I asked. 1. Is the acquisition going to cause a large dilution in the shares of JDX similar to deals done by other cash rich mining companies lately (ESX and GRM). Answer. He mentioned that himself and the other directors have a large stake in JDX and only want to do what is going to raise the price of the stock (increase shareholder's value) both short and long term. I think he used the words "I am also holding the bucket". Note: Both ESX and GRM's directors had little or no holdings in their companies so it is not a big surprise that they didn't put shareholder's value first. When directors have large amounts of their own money on the line it is no surprise that they try and set up deals to increase shareholder value. I am personally gunning for a partial dilution (5-10M) along with a medium cash payout ($5-7M). This would leave them with a reasonable amount of shares out (35-40M) and a healthy bankroll so they can really get the acquisition really working for them. Or better yet, do more than one acquisition in a similar field and merge the companies using JDX to get a synergy between the companies. I guess I have to wait and see what the decide to do. 2. When is the news coming....are you going to wait for August. Same old answer (no comment)...."we are very aggressively looking at acquisition and the second the deal is done we will release the news". However he did sound very positive about the deals being done but said he couldn't give any specifics or names (of course). 3. Do you know who is accumulating the shares through Yorkton? He said it wasn't him and didn't know who it was. I already know it isn't an insider or it would show up on the insider reports. They now have several million shares so they have become a player...I would like to know who it is.... promoter? fund? etc. 4. Is there any Midas overhead left? He didn't know anything about it and suggested I ask Jim again. I am glad I gave him a call although I didn't really get any new information. It is just a waiting and averaging down game at this point. Best Regards KEITH

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