Greetings,
No holidays for me -- just busy with work. I hadn't called Dakota since the last time about a month ago, so I called them again today for an update.
Richard (403-221-7715) tells me that a press release may be expected the first part of next week which will detail the intent to acquire 100% of a seismic company (finally -- some news! :) ). The 15-year old company would become a subsidiary of Dakota, and brings with it a very respectable and established clientele and a long track history. It's a growing company with an annual growth around $1M-1.5M, and closed the year ending August 1997 with revenues of $8M. I believe he said a letter of intent has been signed or will be signed shortly.
We did not discuss the gravel deals, but my feeling from prior discussions is that the company is has shifted their focus to other lucrative deals. If we do get gravel, it would be additional revenues for DAK, but if not, there are other things to keep the company going.
In line with that, DAK will continue to pursue the NWT properties. Also possibly on the horizon is a deal that will see DAK involved in the environmental issues area, which I'm told is also quite lucrative.
As to weather I've sold DAK yet... answer is no. I figured I've been patient this long.. a little more time won't hurt. I'm at about 33% of my initial outlay, but I'm hoping I'll recover most of it somewhere down the road. Only time will tell. At least Richard is bullish on the company and their pursuits, and is very willing to talk to investors. The long-distance call for most people is cheaper than the commissions for trading, so it's a worthwhile call to make, and will hopefully set your mind at ease to get the word first-hand.
Hopefully with on-going work towards acquisitions, JVs, and other deals, we can get out of the lows and lateral movement of the stock.
Regards,
Ben. |
