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Gold/Mining/Energy : Welcome Opportunites Ltd - WLO - VSE

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To: Buckey who wrote (17)	12/16/1999 2:27:00 AM
From: Gulo	Read Replies (1) of 27

WLO owned 50,000 PNP as of last May. I have no idea what they have now. As of the last annual report, PNP bought 167,000 shares of LUMM, a lot less than the '4%' they advertise on their web site. A May news release says "Pinetree owns a 4.4% equity interest, with options and warrants to purchase an additional 4% interest." Do you know how much of LUMM they currently have? (LUMM has 20M shares, 37M FD.) 4% of 20M LUMM shares would be worth $19M. The current market cap of PNP is about $26M. Did you realize PNP loaned Sheldon Inwentash $450,000 for the ESPP (employee stock purchase plan) interest free? Maybe I should ask them for a loan to buy their stock.

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