coastal caribbean (cco@) Message Board

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Gold/Mining/Energy : coastal caribbean (cco@)

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To: Bobby1418 who wrote (1123)	11/13/1999 2:21:00 PM
From: Edwin S. Fujinaka	Read Replies (1) of 4686

I too picked up a few thousand shares at $1 1/2. I still think there are many small investors who don't understand the legal situation and the meaning of "just compensation". Some of them view the situation as being just another brief price runup followed by the usual slow decline back down to $1. I believe that it is now just a matter of time until the Court will order a formal appraisal. The State may still have the right to issue the permit in lieu of paying just compensation (the appraised value of the leases). At these low prices for the stock, I am still concerned that a takeover attempt is possible and perhaps even likely. It may turn out that Lykes and other insiders may be the ones who attempt to "steal" the Company. When the shareholders voted down the attempt to increase the authorized number of shares, it may have made such a takeover less likely. The Company never adequately explained why the wanted the hugh increase in authorized shares. This lack of communication with the shareholders has been a problem with CCO as long as I can remember.

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