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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)
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To: BILLYJEANNE who wrote (2470)5/16/1998 4:06:00 PM
From: Hawkmoon   of 2841
 
Billyjeanne,

You may be right about not going back above $15 until a few quarters of meeting estimates present themselves.

However, at a PE of 7 and expected 29% growth($65 million deal should generate some revenue and earnings), plus $100 million in a bond offering, this stock is a table pounder at this price.

It is also one of the relatively few safe value stocks out there that could attract bargain hunters during a general market correction(which is on its way, I bet).

I bought ECGOF for relative safety and for its significant undervaluation. I'm betting that some others will be thinking like myself and buying other peoples fears and doubts, while looking at a longer time horizon.

You have to admit that it doesn't seem there is much more downside to this stock, while the upside could retrace old highs and beyond with the right kind of news and earnings.

Regards,

Ron
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