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Gold/Mining/Energy : Precious and Base Metal Investing

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To: russwinter who started this subject3/28/2003 8:31:02 PM
From: jimsioi  Read Replies (1) of 39344
 
Been away, catching up, WHT comments, concern?

Saw this post over on the HMY Yahoo board....anybody have any thoughts or knowledge concerning it.

Re: OT- Cherokee Assembly, WHT
by: mpennington14
03/28/03 05:35 pm
Msg: 29103 of 29121

FWIW. On every gold site I read they are talking about WHT and what a great
investment it is. As you all know, I am a long and rarely ever short, so I have no axes to
grind with WHT. However, let me say that I've been investing in gold so long I
remember their CEO very well, Ian Telfer. He was formerly the CEO of a gold
company called "Vengold" which I was a shareholder for many years. When he took
over the company it went straight downhill and was bordering on bankruptcy when
Telfer sold off all the assets, and rolled them into a new Canadian company called
"Itemus". He was able to raise some capital through a private placement, and suddenly
changed the charter of the company from a gold miner to high-tech venture capital
company. He bought interests in 4 or 5 high tech companies that were a complete
joke.Even I can't remember the names of these companies. It only took about two years
and Itemus went bankrupt. I lost all of what was a small investment, but this guy buried
alot of investors. He went into hiding for awhile and recently surfaced as Chairman and
CEO of WHT. It may do extremely well but based on my experience I'd be VERY
skeptical of any company this guy is managing. .
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