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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: Andrew who wrote (4886)11/5/1999 11:10:00 AM
From: Shaw  Read Replies (2) of 7235
 
Hi Andrew,

If we're not at the bottom, the company and its schedule will be out of whack for the near term future. Presumably they are working on getting Messina financed. If they do it at $1 instead of 2 or 3 the dilution will be severe.

I wished (hoped) that some of the buyback would've been initiated at 2.50 or 3.00. Then when they hit the capital markets for Messina financing the dilution would've been OK. If they spent $1 million to support the stock a couple of months ago there's little doubt the stock would be $1.80 and they could've saved the shareholders some dilution.

Also, less dilution, by definition helps EPS and P/E multiples. $10 is easier to reach with less dilution.

All MO,

Dean
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