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Gold/Mining/Energy : Trailmobile Canada TMX (formerly MII)
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To: JOE TURMAINE who wrote (286)3/25/1999 5:33:00 PM
From: Mario Gallant  Read Replies (2) of 406
 
Joe and all.

Received a call back today from Denis Arsenault. The audit team is looking at the financials right now and the company is aiming for April 8th for the earnings release. These results will only be for year end (Q4) and will be followed by 1999 Q1 results later in April. Of course Denis would not give an opinion on the coming earnings but said that there was a lot going on right now with the company. He also stated that with the new management and the expenses(1+ million) incurred in Q1 1999 to make changes to their facilities Mond expects to double production in their current facility. I also asked for an opinion as to when we could expect to see real positive results (earnings of more than 1 or 2 cents per share) and he indicated that he expects it to be in the second half of this year 1999.

The impression I was left with after this conversation was (and this is only my opinion)that we will see two more bad quarters Q4 1998 and Q1 1999 before anything real positive. I have thought about selling my position now to buy back later but I have decided to stay the course. I think the results for Q4 are going to be no earnings or even maybe a loss. Having said that I think that at this price there is little downside risk and hopefully investors will start buying in anticipation of better things to come.

Regards,

Mario.
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