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Gold/Mining/Energy : Westfort Energy Ltd. (WT-T)
WT 11.59-0.6%Nov 7 9:30 AM EST
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To: Felicia P who wrote (969)8/4/1998 6:44:00 PM
From: AL Berta   of 1288
 
Like any other small start-up, the company has granted options and financed through P.P. The guys at Genesis Group (Grant Young et al) have had quite a number of dogs to promote in years past. They have also had some success stories. The long & short is, they know the difference between the two.

They are not selling. I am aware of a number of the P.P. and options holders and I'm not aware that any of them are selling significant quantities of stock. They believe this stock is going to $4.00 and beyond in the very near term.

Tons of people came into the stock at above $2.50. and some above $3.00. If anyone is selling, I believe it is them. The ones who were looking for the "quick-hit" as the stock broke toward $5.00.

Needless to say, the stock corrected from $3.95 to where it is now. Rather than wait, they see opportunity elsewhere and are moving. I think they are being very short-sighted but I don't fault them. I too moved out at $2.30 and back in at $1.60. I am now carrying more than double the position I previously had and am looking forward to more than a double in value.

I believe the stock will begin moving before the week is out and by the end of this month, we shall all be greatly rewarded. The stock will not go any lower than $1.65 however in the near-term.

Best Regards, AL.
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