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Microcap & Penny Stocks : INFE ... Infocall another Sleeper
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To: Mr. Z who wrote (9377)1/14/1999 11:48:00 AM
From: Sigmund  Read Replies (2) of 10343
 
<<<< except it didn't stop falling once it hit $1/4.<<<

I worry about that too but don't think the situations are similar...but you never know.

I used to be in the mining business....mainly copper. But I also know a little bit about coal. Kennecott once owned a major coal company Peabody but had to divest. Kennecott owned Quebec Iron and Titanium and I did a lot of work for them. They bought 10% of the country's output of anthracite coal not for heat value but for the chemicals used as a reduction agent in making iron which was a biproduct from the process invented by QIT which used a special ore that contained both iron and titanium.

I believe that one of the major steel companies I think it was US Steel but I could be wrong bought a coal mine in the Anthracite region near Scranton and there was no coal there. My guess is that small independent miners had (under cover of night over the years) removed the coal showing in the mine plans filed with the State of Pennsylvania. When I worked for Kennecott one of our divisions requested money to develop an orebody (lead/zinc/copper) which was near an existing mine and I had the brilliant idea that they didn't need a new expensive shaft but could go sideways (adit) over and under the target. When they got there there was nothing there. They said it was my fault that they had miscalculated the depth of the deposit (hilly area) and went over the deposit (you need to be under the ore to use gravity to mine it). Who knows? Geologists are very optomistic people.

I don't think the risk factors are as great for INFE but who knows.
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