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Gold/Mining/Energy : Franco & Euro Nevada FN , EN

FN 448.52

-10.2%

3:59 PM EST

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To: Bearcatbob who wrote (26)	6/30/1997 1:12:00 AM
From: Roy Cetlin	of 658

I'm not that close - I have two lovely young ladies ages 7 and 12. My 12 year old is Downs Syndrome who is quite capable, but will need financial security long term. My 7 year old is really bright and should be afforded the benefits of a higher education. Since I started a family late, I have to make up for lost time. Specific to Advantedge, the stock has been as high as $6.00 just based on the hype of their distribution rights for Asia and all of North America. Since then the stock has drifted down to its current range of $2.00. Over the past 8 months they have raised money to purchase a 50% interest in the South African software company that has designed all the POS software for the Fuel Master System. This is a profitable company. They have just completed an agreement to purchase a 50% share of the company that makes all the hardware, plus having active contracts in France.This is also a profitable company. They completed the initial 20% of the purchase and are currently raising the funds for the balance. This has all been done very quietly and without a lot of fanfare. Once all the pieces are in place, they should develop a following at the major brokerage houses and funds. Both deals included stock in Advantedge, so obviously they believe there is a greater benefit to being part owners of a vertically integrated company than just one of its supporting pieces, even though they are giving up some immeidate profits. They currently have trials underway in three Asian countries and expect contracts in the near term. As I said, this is still speculative but I believe it's a good story. I got in initially at $2.15 and bought going up to about $5.50, and bought more at the current base. My average cost is $3.27 so I'm on the negative at this time. My expectation is $10-15 in 12-18 months. Once they get their Far East deals signed, I will have no problem buying more, even if the share price is 2x of today. At that point it will be less of a spec. Roy

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