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Gold/Mining/Energy : Nuvo Research Inc
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To: Greg Spendjian who wrote (670)1/1/1998 10:07:00 AM
From: Mark Bartlett  Read Replies (1) of 14101
 
Greg,

<<It would have appeared to be a vote of confidence in WF10 for them to take the additional 5%. Let us see what 1998 brings.>>

Personally I do not believe it is has anything to do with their belief in WF10 - I suspect that they will be focusing their efforts on Pennsaid (as the PR indicates) in the very near term, and my _hunch is they are redeploying capitial in that direction for good reasons. I know they were looking for FDA approved production facilities for Pennsaid. I do not know whether this _potential redeployment of capital has anything to do with that, or not .... I am just guessing.

The fact they are requesting additional time to acquire their remaining 5% of Oxo Chemie, indicates to me they still want to acquire it. I believe the company is attempting to keep dilution to a minimum - something I can't argue with. Stratigically, I believe it may be a very good move. If they get Pennsaid approval, their share price is likely to improve - that will make raising any additional required capital that much easier - and less dilutive.

With Pennsaid approval (In Canada, but especially in the US and the UK) and with their present 20% interest in Oxo Chemie, IMHO, the co. will be well positioned.

My take on the situation,

MB

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