American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 1.705

+0.9%

10:53 AM EST

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To: Hawkmoon who wrote (2569)	6/26/1998 6:17:00 PM
From: JimieA	Read Replies (1) of 2841

The news on Dominion Bridge has to have an adverse effect on American Eco and its stock price. Eco has a $5 million investment in DBCO at $2.60 per share. The stock is now worth $.75 a share. I anticipate about a $3.5 million write down sometime this fiscal year. That approximates this quarters expected income. Also, since Eco and DBCO are doing a few significant joint ventures, something that may drastically effect DBCO will surely effect the progress of the joint ventures. I think DBCO needs the money it was going to receive on the sale of this subsidiary. Without it they are hurting. And that does not take into consideration the unspecified contingent liabilities that made the prospective purchaser ITEQ back away from the deal.

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