Magin Energy-MGY on TSE Message Board

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Gold/Mining/Energy : Magin Energy-MGY on TSE

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To: Bearcatbob who wrote (22)	3/8/2000 1:24:00 PM
From: kingfisher	Read Replies (1) of 92

Appears to be a divergence of opinion on Magin. Griffiths upgraded MGY to a buy with a 12 month target of $4.50. At the same time Sprott downgraded it to a hold with a 12 month target of $3.50. I am not a client of those firms therefore they will not e-mail those reports.Curious to see how they both come to opposite conclusions. Would appreciate anyone having access to those reports to post or forward it to me via p.m. Noticed that current N.A.V of $5.07 does not include the value of $ 128 million in tax pools.If included this should add another .50 cents per share. Also on January 7th,Wellington Management a U.S based institutional investor declared an 11.33% position in Magin. These people may have enough clout to pressure management to increase shareholder value. Stock needs to increase trading volumes and move above $2.80 to become attractive for followers of technical analysis. Noticed still too many anxious to dump their holdings.Until this overhang is cleaned out stock will be dead money for a while yet. Still of the opinion that it is up to management to indicate confidence in their own stock by starting the ball rolling with a more aggressive buyback. R.B.

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