T.ITE: iTech Capital (TSE) Message Board

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

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To: Claude Cormier who wrote (929)	9/20/1999 3:24:00 PM
From: keith massey	Read Replies (1) of 5053

Claude JDX is currently getting an average return of around 7% on their holding ($95,000/month) which more than offsets their burn rate ($87,000/month). The loss in the past 6 months was do to an increase in the Canadian dollar compared to the U.S dollar....since their holding are in U.S funds this gives a loss on the balance sheets. There was also a loss because of a drop in bond prices. See this post...however since I have written that post bonds have dropped back again so forget that section. Message 11069948 If you go over the past 18 months of Sedar reports you will find that they are not burning .01/quarter and actually made .05/share last year. This .01/quarter is only due to movements in the U.S market. So based on all of these factors and the present Can. dollar rate and U.S bond price I put JDX's cash at .65-.66 and with the Medsite.com deal .70/share. Best Regards KEITH

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