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Gold/Mining/Energy : Position Trading in Canada
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To: Vitalsigns who wrote (2040)2/11/2000 11:00:00 AM
From: keith massey  Read Replies (1) of 2259
 
Position trade on MTM

Chart pattern showed up on a scan and waited until the $6 resistance disappeared before jumping in at $6.05-6.40.

9.8 million shares out, insiders own around 4.5 mill of these. They are a wireless communications equipment maker and currently have good sized contracts with all the names (Nortel, Lucent, Qualcomm, Ericsson, etc.). They just posted a record backlog to a record $23.5-million.

The company is now concentrating on mostly wireless and in Dec. they announced the sale of of the United Kingdom facility, which manufactures satcom and terrestrial components. "This divestiture is in line with the streamlining of our operations and will provide a fully diluted one-time gain of six cents per share in our third quarter. (note: third quarter due out March 3)

So they get a $6-7 million cash injection.

Back in Sept. they announced "a strategic investment in Amplix Inc., a Montreal-based privately held company specializing in the design and development of wireless and satcom products. Mitec's 15-per-cent investment will allow for the joint development of next-generation wireless amplifiers, such as multichannel power amplifiers.
Mitec also acquired an option to purchase an additional 34 per cent of Amplix. Terms were not disclosed."

I am going to guess that MTM will buy the other 34% with the cash they get from this sale.

Seems like an undervalued wireless play compared to all the other similar companies I have researched.

Best Regards
KEITH
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