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Gold/Mining/Energy : Tracer Petroleum (TCXXF)
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To: Patounet who wrote (494)3/12/1998 12:34:00 AM
From: Jim Daly  Read Replies (1) of 1261
 
I think that the new shares are intended to be HELD by the new partner(I read that between the lines on the news release) 9 million shares is the equivalent of 1/5th of the company (37 + 12 / 5). They won't go flooding into the market, although they will dilute earnings.

As for the warrants. They will be of no value if the stock price stays below .20 through next year. It sounds as though Tracer has found a white knight that is willing to front the cash for expansion based on the Tracers holdings.

I've held TCXXF for 5yrs through good and bad and have gotten to know the ups and downs of this stock on a daily basis. I see a very positive upside from here-BUT-it is still a long shot. Buy at 3/16 or lower if you can find sellers.

Jim
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