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Gold/Mining/Energy : DEJOUR MINES (Toronto:DEJ)
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To: ysell who wrote (434)5/10/1999 11:12:00 PM
From: Tony from Niagara  Read Replies (1) of 571
 
"I can only give you the news. I can't predict the future."

I like that. I'm in SI (mostly) so that so I can read the news without much delay.

IMHO too much of this thread is consumed by idle wishes or chatter without foundation to the effect that DEJ will rise to the sky next week or tomorrow or today or in the next hour or whatever. Fortunately those posts are short and more sufferable than some of the posts in other subjects (WSP for example).

For the record, I am long DEJ and at a decent profit which I hope may become an indecent one in the near future, but a couple of things trouble me.

I'm not too troubled by the price action - a run from under $.15 to $1.07 in a month or two on major volume is encouraging - and the retracement to $.35 was not unexpected (a reasonable approximation of a fibonacci projection once the high was ascertained). Nor have I been troubled by the slow rebound after the retracement - this market rotates between favourites with amazing speed and other juniors have held the spot light since the big surge while DEJ supposedly gathers its strength for the next move up.

And I like the concept. In my business it would be cheap at CDN$200.00 to be able to deliver a document printed and bound in the "original" across the continent or around the world in two hours. I am opening an account.

But I am troubled by the apparent eagerness of management to cash in on the new wealth, personally and corporately.

Isn't this the company for which an insider exercised some stock options and sold the stock and then some at prices ranging above the current market? Please correct me if I'm wrong.

Isn't this the company which issued a private placement recently at $.05 or $.10 per share? Again please correct me if I'm wrong.

Isn't this the company which today announced a private placement at $.50 per share with further rights at no additional cost if the amalgamation with ID doesn't occur? $.50 may be a reasonable price for such a large placement but following on the heels of the prior placement and with the stock trading 30% above today's placement price it doesn't engender enthusiasm in the market - witness today's closing price.

"Re-capitalization", isn't that a fancy word for share consolidation or a reverse split and isn't that commonly a bearish event? Again please correct me if I'm wrong.

I don't mean to be unfair to DEJ management and/or insiders, but I suppose the essence of what I'm asking of them is that they demonstrate an evincing commitment to the company and its intermediate, if not long term, prospects.

Regards,

Tony
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