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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)
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To: Thomas Kelly who wrote (4647)4/28/2000 7:45:00 PM
From: Condor  Read Replies (1) of 5053
 
Hi Tom.
A pint ...next time OK?
I do not own any VEN and never have. I won't hesitate to play it though. I remember a couple of months ago they traded their entire o/s shares in a two week period so the players are IMO always ready. Their market cap fully diluted according to my calcs is $400,000,000 on their original $90,000,000 or 4.4/1 where ours is $35,000,000 on our original $20,000,000 or 1.75/1
To me the lower ratio is perhaps where more money is currently left on the table and suggests $ 1.16 is cheap by comparison.
FWIW, I had the opportunity to discuss the VEN large share structure and need for future cash (therefore ....what?... more shares?) with a Cannacord analyst who was attending the ITE meeting and who had attended the VEN meeting. He acknowledged it was an interesting point. I indicated that while I would never rule out VENs chances of success, I was more comfortable with ITEs modest share structure that left room for future share issuance and raising funds without flooding the place with paper.
We can probably all agree that short term investments require the discipline to sell with a respectable profit and thats where most of us fail. We go for the brass ring that always manages to stay 2" beyond our grasp until.......
Regards
C
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