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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)
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To: Peter H. Mack who wrote (2338)4/5/1998 2:27:00 PM
From: david james  Read Replies (2) of 2841
 
There seem to be a lot of rumors going round that Eco still has some interest in DBCO. DBCO needs cash, but there are two ways that they can get out of their problems. They could sell the whole company along the lines of the previous Eco proposal. Or they could sell off parts (e.g., Davie or MDC). If they sell off parts, it would help with their cash shortage problem - but would not likely be all that good for the DBCO stock - since they would be losing their earnings potential - and leave them with the same management. DBCO stock is not acting like a buyout of all of DBCO is imminent.

I suspect that McGinnis is not too happy with the DBCO's management games and press releases. If DBCO management did step down, then maybe a buyout would be possible. But I wouldn't trust DBCO management to do the right thing for their shareholders.

I heard that the DBCO shareholder meeting was opened then adjourned immediately - with the rest of the meeting presumably postponed. I guess that DBCO management never really had to face shareholders.

This was on the recent Eco press release with respect to DBCO.

sec.gov

American Eco will monitor the activities of the Company
with a view to maintaining or disposing of its interest in the
Company's securities or possibly proposing some other form of
acquisition transaction of all or parts of the Company. Among
the factors which would be considered by American Eco with
respect to its future interest in the Company are the financial
performance of the Company, the trading market for the Company's
Common Stock, general economic conditions in the industries in
which the Company and American Eco operate and the entry by
American Eco into other acquisition opportunities.

David
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