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Gold/Mining/Energy : Synex International Inc. (SXI.T)
SXI 230.05-1.9%1:09 PM EST

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To: Sam T who wrote (9)8/1/1998 3:48:00 PM
From: Dick Martin   of 42
 
Glad to here that somebody is beginning to take an interest in SXI, I have been a shareholder for a number of years and have seen great advances in the fundamental in this stock. Once a troubled speculation that nearly didn't make it Synex has now begun to deserve the word "international" in its name. Management has been steady and clear in their aims, announcing what their objectives are then going about business to achieve their goals. The result has been a steady development of the business, the recent closing of the deal with New World Power Corporation is an example of this. I think this deal is fantastic for Synex as it will bring new opportunities to develop in profitable markets many of which are outside Canada. The valuation of the shares do not reflect the substantial improvement in the value of the business and with a great deal of the share dilution, due to the involvement of Greyvest, behind us and the normal coarse issuer bid the share holders should begin to see a higher evaluation of their investment. As to the FutureStock Review, I haven't seen it, the target price of $1.12 is not unreasonable and could be more, I think that his investment deserves a higher price to earnings ratio of between 15 to 20. The software division is also doing very well and a successful software business is commonly evaluated high still.
- - Dick Martin
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