I do not beleive that the fundamentals have changed. The one player in this game that we forget to discuss is "Oxbow Capital Corporation". Oxbow, headed by Ron McMahan, was the ven-cap/merchant bank that gave SYB its start.
About Oxbow: Oxbow is only a few months older than SYB. In its short life, it has grown from a two man show with out an office to approximately 10 people occupying a floor in a downtown Calgary office building. Last I heard, Oxbow was adding an excercise room to its space. During the past 3 years, Oxbow has been involved with Ultravision (UVC), Badger Daylighting (BAD), Abacus (ABT), Oxbow Exploration (OXB), and several other private and public companies. Oxbow's revenues come from management fees and from their equity stake in the ventures they seed.
My theory, is that Oxbow has funded its growth from the proceeds of selling shares in its early ventures -- including SYB. That does not mean that they sold everything, only that they sold shares as the shares became free trading. The current weakness may have been encouraged by deliberate silence on the part of Oxbow and SYB in order to create an opportunity to buy the shares back in.
So, I am still buying......
(Any chance I can get on a few president's lists Ron?)
David Zabrocki
Calgary, Alberta
(403) 288-6724 |
