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Microcap & Penny Stocks : STAX -----> Stelax Industries - A real gem.
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To: Jim Chapman who wrote (671)7/10/1998 12:54:00 PM
From: Eric G. Erpenbeck  Read Replies (2) of 1112
 
Dear Jim,

Here are three questions that I would truly liked answered, since you are optimistic about STAX:

(1) Why is a mutual fund like DREYFUS that bought shares of STAX around $1.30 selling all the way down to $.70. They obviously have lost confidence in STAX as is now reflected in the stock price? Why did the mutual fund loose confidence if there is a lot of serious progress that is just about to be made?

(2)The original Stelax started life in 1990 with a patent (Nuovinox ;approved in South Africa since 1980).The company produced Nuovinox until 1995 when it went broke (I believe it is the same managing director as is on board to this day)It was revived under another name ZFax then Stelax. Hence my conclusion is that STELAX IS NOT a start up company. Is it?

(3) Why are no private entity's buying Nx (ie food and beverage and off shore oil refineries)? Supposedly with the recent increase in production capability in Wales, they should be able to mass produce quality product. So where are the buyers?

I am betting that next 10K might be ugly! If I recall STAX was selling SS at a loss with the exchange rate differences, were they not? I did not ever understand the logic in any of that either.....

I truly wish you good luck but something appears astray to me or maybe I am just being "THE blind Man"..... Honestly if there are good answers to these questions I would love to know it! As always I do appreciate you taking the time to keep us all informed!

Eric
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