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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE)
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To: Supervalue who wrote (5411)1/13/2002 1:52:47 PM
From: Vitalsigns  Read Replies (1) of 6016
 
GLE should already be a 20 buck stock but the market likes Ballard and others with news hype.

SuperValue, GLE is trading at these levels because of the uncertainty MOU's deliver. Until the deals are firmed up and more information is unveiled, GLE's stock will languish. GLE should be trading at its 200 day moving average like the rest of its peers , that MA is at $11.50 currently.

As of Fridays close GLE is trading $4.20 below that level or put another way , Management handling of these issues to date have cost GLE shareholders $134 million in lost market cap.

We have the year end report due at the end of February , and the AGM will be held in June most likely. Since we have 4 MOU's outstanding and need to be firmed up. Talking to GLE last week , it appears the two Propane MOU's are being set back because GLE wants other things to fall in place first. This is GLE's own doing and not the other companies apparently. As for the AES and DANA mou's , GLE intends on wrapping those up by end of 1st quarter , meaning March 2001. The AES deal will do nothing for shareholders IMO , but DANA could if it is something with teeth. If Dana id merely a manufacturer of a part for GLE then that would signal that GLE has every intention of going at this alone , which would be another way of saying , no one wants to deal with them.

We still have a yet unnamed Major US partner that Jim has been promising to deliver by end of 2001 which timeline has now past. Also we have not had a performance update on our fuel cells published since 2000. Thats over 18 months ago, so the market is beginning to ask what exactly is happening. Enbridge FC second prototype has still not been delivered.

This is why the market is giving GLE a big yawn at the moment. All the other FC are moving because the news they send maybe hype but they are progressing and are telling the world what is going on. GLE like almost every other Canadian company is content to live in its Igloo and give the impression that the money spent on its stock is a waste of time.

Now if GLE does start to perform like 99% of all other FC companies, I have $16 as a target for the next move. That would offset the 200 Ma by an equal amount above it as it has been below it.

Longer term $25 is a very good possibility as long as the market accepts at face value what Jim Perry has to deliver, any second guessing as has been the case and we languish here for a long time.

Let's hope the Year end release and the AGM bring better news then we were handed in 2001.
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