Pinetree Capital-PNP-CDNX Message Board

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Gold/Mining/Energy : Pinetree Capital-PNP-CDNX

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To: Professor Dotcomm who wrote (51)	12/14/1999 11:30:00 AM
From: the Chief	Read Replies (1) of 233

Quite agree although I would still have to consider MNTX as a 'risky'investment. Rather a "self-fulfilling statement" now that LUMM has corrected back as a result of a "short selling house" issuing a sell. What a strange thing for them to do!!<gggg> MNTX valuation is tied to LUMM much more stringently than PICA now PNP is. If we just take LUMM's present value at a mere $21US we still have $21,000,000 US which is $32,000,000 Canuck in Asset value. This alone is enough to substantiate the $3.50 that PNP/PICA now sells for. This excludes all their other assets!!!! One of which is a VGIN at a mere $23US which again provides this company with an additional $34,000,000 Canuck in asset value! So even though LUMM is having a "bad hair day" today, PNP is still selling for greater than 50% discount to NAV the Chief

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