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

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

ECX 1.600

-5.1%

Dec 15 3:59 PM EST

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To: David Tashima who wrote (2610)	7/6/1998 6:34:00 PM
From: david james	Read Replies (4) of 2841

I just listened to the conference call. Quite a number of questions. I believe they said book value was now about $5.29. Extinguishing of debt was because they moved over from the loan from the bank to the bond deal. This did seem odd, since it looks like they are paying a higher interest rate and had to pay the costs of ending the previous debt early (that's the charge). They said that May was a much slower month than expected, primarily from a lull in the activity at MM Industra, which was their highest margin work. Sounds like things got back on track in June with the piping contract. Chem, they said, made a profit of $500,000, so that wasn't the source of the problems. CCG was again a problem. Didn't really get a feeling of whether that would be fixed immediately. They expect EIFH to be sold in August, and also expected to receive the notes from "eurostar" (?), which I think was related to the selling of the Enviro subs. It does look like things are better going forward, but then, that wouldn't be hard after the first half of the year. David - obviously this has not been a great one to hold. Although its hard to say where we are going tomorrow, since we are now under book value.... P.S. In response to a question, management said that there was no insider selling "lately"

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