Kaiser says Meteor-Thoughtshare deal signing in September
Meteor Minerals Inc MMI
Shares issued 13,902,820 Aug 6 close $0.295
Mon 9 Aug 99 In the News
John Kaiser, writing in a Bottom-Fish Tracker of Aug. 6, says management
does not expect the final agreement to purchase a 35-per-cent interest in
Thoughtshare Communications until early September. Because of the proposed
deal, Mr. Kaiser made a strong buy recommendation for Meteor in June at 15
cents. It now trades at 23 cents. The California-based letter writer, best
known for his coverage of junior resource companies, this spring began to
investigate Internet juniors. Mr. Kaiser blames the deal's delay on
Thoughtshare shareholder Simon Fraser University. He maintains confidence
that the deal will proceed, however, adding the project holds
"extraordinary upside potential." Meteor has made the initial $100,000
advance in the deal worth $500,000. On a technical level, Mr. Kaiser sees
resistance at the 30- to 40-cent range, and once past 60 cents, "it will be
brand new territory," he writes. Sixty cents was its high point as an
Alberta diamond player. Mr. Kaiser expects Thoughtshare to release a
commercial prototype of its browser plug-in early next year. He advises
accumulating up to 40 cents. |
