Repost: HEADER:Great DD by Tim P (a MTEI DD member} Investors must read. Thanx very much for your
work. Regards Bill
Message below from Tim.
Wireless,
I've read most of your posts and tolerated your name calling.
First let me give you me my condensed opinion on MTEI and then I'd
like to address your points:
A) Who I am, why I've invested in this company and why I plan on staying
short-term:
As you eluded to in an earlier post, as far as understanding financing
and venture capitalism; I would definitely consider myself an amateur.
I have VC friends and we talked about general things, but I really
don't know their terminology or business details well (as you
correctly pointed out). My knowledge and advantages consist of
understanding worldwide energy concerns, picking potential great tech.
and energy companies, and being patient. BTW, I'm not a principal of
MTEI, as you mentioned to Bill, I'm an environmental engineer in
California who spends way-too much time on investing and reading stuff
about geology.
MTEI is going to grow significantly. At the least, they will enhance
shareholder value year-in and year-out. I base this prediction on
previous information I posted via Bill L. See, many folks can't
envision this because their in for the short-play or can't think in
terms of years, only weeks (I guess that's where my geology background
helps) and they get into trouble after reading posts written by
spin-doctors like yourself or your FBN friends.
It's real simple, MTEI will be successful in the future because they
are acquiring reserves on the cheap - it's almost like buying
options.
"My god ! Untrue ! Nobody would sell them these reserves at
bargain prices - there is no something for nothing in this world
!" (that was you & your FBN friends)
Yes, there's a huge oil glut - energy is dirt cheap. But because of
current conditions, people are not interested in developing these
properties because RIGHT NOW IT'S NOT ECONOMICALLY VIABLE. Being human,
people lose interest in things that are not profitable now, especially
when they don't understand that conditions will reverse within a few
short years. MTEI's folks have a huge advantage because they have seen
this energy cycle four or five times before. I've only seen the 1970s
and on a smaller scale, 1991.
FOSSIL FUELS ARE A FINITE RESOURCE ! Get it ? Alternative energy
sources ? Right, GM's EV-1 with it's 120 mile range between 6 hour
charges is real practical for me. Right, U.S. environmentalists are
going to permit more N-Plants and large dams.
Well pal, lets talk about you now, your motives and your posted
information and views.
1) First, everyone should be aware that without question your a
Canadian Shorter.
If not, why do you spend so much time on this ? I do because I have a
financial interest in defending an investment that's being unfairly
attacked by you. No wait, let me guess, you want to save some total
strangers from potentially making a mistake ? God Bless you Wireless
Wonk ! Stop the B.S., without question, everyone posting on this
thread has a financial interest, short or long. I can't believe
anyone could be so pathetic to be doing it for other reasons. Then
again, from what I've heard, your FBN pals definitely need to get out
more often, rotate the tires, etc.
You'll disappear if the stock drops near your planned shorter-exit
point.
Now lets talk about your information and views.
1) Folks need to be aware that you and the others in general keep trying
to distract everyone from the fact that MTEI IS AN ENERGY COMPANY - NOT
SOLELY A COAL COMPANY. Your coal discussions are getting lame. Did I
mention coal ? Remember when you posted to Tod C (Post #1667) and used
ZEI. You stated that they have 1.2 billion tons in coal reserves, yet
their balance sheet shows only 673 million in value ! My god, you did it
again through mind-blowing research !
Everyone, for the record, I called ZEI and spoke with a IR representative
about this. He stated that the 673 million on the balance sheet was ONLY
THE COST ZEI PAID FOR THE LAND & MINERAL RIGHTS, NOT THE ESTIMATED VALUE OF
THE RESERVES. NO PER TON RELATIONSHIP between the 1.2 B tons and 673
million exist. But don't take my word for it - call ZEI IR at (618)
394-2627, I spoke with Mr. Francis Canovan (nice guy and informative). BTW
Wireless, if you call him, I would not mention that you've been posting on
the internet that ZEI's reserves are worth only 673 million dollars, people
these days get sued for less.
Also, folks, please be aware that this "1.2 billion tons/.673 billion
dollars" formula is the basis for his 100x factor that he keeps using on
MTEI (i.e. they got 2 million, not 200 million reserves).
2) Wireless, your #1665 post:
a) MTEI gave up 23% of their value in private assets to shell ICVI ?
Excuse me, but it was not near 23% and also, that's what you do when you
go public.
b) MTEI bought ICVI for 0.04/share and according to your interpretation of
GAAP principles, MTEI should have paid much, much less. Wow, I wish Jack
had you by his side when he was negotiating the purchase price with ICVI.
Sounds like you could have convinced the ICVI'ers that they should be
happy with 100,000 shares or about 4,000 dollars, instead of the 7 million
shares worth 280K they were allowed to keep for giving up their company
listing and accounts.
c) Pure Speculation that oil prices are going up in the future ?
Yep, mine and many others who understand that economies will continue
to grow and are dependent upon fossil fuels which are finite resources.
You heard Asia was officially in a recession now and that it would
curtail energy consumption ?
Wow ! Now you Wireless are one that keeps up on current events with
keen insight !
FYI, ASIA HAS BEEN IN A RECESSION SINCE DECEMBER 1997 !
I look forward to your future post reporting to us that Asia has
recovered six months after the fact.
d) Hey pal, I noticed you did not have much to say after Eric and I
challenged your claim that environmental restoration would be one of
the biggest expenses in their operation ? Skillful of you to leave
that out of your big response.
e) Also, all the detailed accounting numbers that you demanded from
me:
How would I have that ? You know that. Your just acting like you a
political congressman on C-Span who gives a fire & brim talk to the
opposition while there is nobody in the hall listening and the camera
only stays focused on him for T.V. viewers.
3) Your latest and greatest #3536 post:
a) Wow in bold letters - Arch buys 23 million tons for 6 million
dollars. Once again folks, the old ZEI trick I detailed above. I'm
not going to call Arch, but I bet if somebody else did they would
learn the same thing I did from ZEI.
b) Pretty nasty number on Macker. But that's par for you. Yeah he's
bullish and pumping it, like me. Because were doing it because we
see great value here, and right now it needs to be pumped or defended
because of the likes of your kind.
Finally, If I were in MTEI and had my way, I'd complete a Leverage
Buyout-Out (LBO) and be gone with the Wireless/FBN gang. Who needs
impatient short-termers constantly bashing the stock for their own
gain.
Wireless, if you respond or not, I could care less. Most likely
you'll come back with some accounting B.S. spin, hoping that the data
or formula you use as the basis for your opinion is not
double-checked by someone else. Remember, the more time you spend on
this only supports our conclusion that your financially involved via
shorting this stock. I'm sure you've spent 10x the amount of time on
this that I have ( and own the stock !).
Once again folks, ask yourself why this Wireless guy and his
bedwetting friends (FBN) spend so much of their time and effort on
bashing this stock. You know why, they have a financial interest in
it going south, and the sooner the better.
If your holding and on the fence, at least wait until the first Stagg
report is complete. Don't cave to panic and let naysayers and
short-term conditions pursue you to sell for a lose. Also,
understand that Jack is in a learning process when it comes to
dealing with the public, he's always been the behind the scenes
oil-guru. He'll get better with the PRs.
JMHO,Good luck to all and think long-term.
Tim |
