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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C)
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To: Jim P who wrote (623)3/18/1998 1:15:00 AM
From: Tommy D  Read Replies (3) of 2306
 
Has anyone received anything from STF or BEA regarding the rights or the supposed recent letter from management. I do not live in one of the provinces where the rights are being cleared but I have received no offering information nor no management letter from STF. The management letter I saw was a letter from Curlew Lake's management, not STF's or BEA's management.

To date, very few rights have traded for either BEA or STF. I tried to get the exact amount off of Canada Stockwatch but could not get the info but I would be surprised if more than 2 to 3 Million rights have traded and there would be approx. 90 to 100 M o/s. Unless all the holders already live in the three issuing provinces, how do we have rightholders who are in a position to exercise the rights. The forgoing presupposes of course that there is some reason to exercise and at this point, there is little incentive to exercise.

Assuming an acquisition cost of $.005 per right, there is currently a differential of $.10 between the stock price of STF and the value of the stock that could be acquired using the rights I bought the rights(perhaps stupidly) and had intended to exercise. However, not receiving information from the STF, as a shareholder, particularly when other participants in the play have info is really spooking me. In addition, IMO the previous claims by the management of STF/BEA have really hurt the companies. It would be a shame if they do not raise the additional funds necessary to participate in the continuing program. I have stated before that the right offering and the timing seems so peculiar to me.

I hate to sound like a whiner but there are only 10 trading days left so these rights have to start trading soon if the companies are going to raise the necessary funds.

TommyD
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