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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: Gr8Karnac who wrote (803)5/26/1998 8:43:00 PM
From: Dave Gore  Read Replies (1) of 4142
 
The only reason the "P"'s are trading at a big discount is that the conversion to 35 shares and the dividend are not happening until Oct . 1, 1998 and 1999 respectively.

In other words, if you think that MIDL is going to simply maintain a $1.00 per share price for another year and a half, then even paying 35 -40 for the "P's" is a good price. Of course if the common hits $5.00 in a year and a half, or $10 more likely if things go right, then the "P's" and the "W's" are the buy of the century.

It is the UNCERTAINTY OF TIME that keeps these low. That is why if you like MIDL long term the P's are a steal!!! Just like the warrants are.

However, the warrants are much closer, IMO, to realizing fuller value, perhaps only a few days away. I like them both and own some of each.

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