T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: Michael Brandon who wrote (4680)	5/17/2000 1:41:00 PM
From: Dan Hamilton	Read Replies (2) of 5053

I just bought in at 79 cents, with a modest initial position. I'm trying to come up with a realistic value for the shares. While they may not be grossly overvalued, they may not be terribly undervalued right now either. Here's some of my thoughts... First, has anyone estimated what their their assets are currently worth? Cash at the end of 1999 was around $16 million, with 30 million shares outstanding. So with almost no debt they would have had a book value of 53 cents a share at that time. Subsequent investments have been made but it's probably too early to consider any have risen in value. These types of holding companies usually trade at a discount to assets of 25% or so, since profits are erratic and dependent on the stock market or M&A to realize liquidity. So even with a pending Medsite IPO, it may be way too early to expect a value much more than the current share price. Comments?

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