T.ITE: iTech Capital (TSE) Message Board

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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)

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To: keith massey who wrote (520)	5/31/1999 3:24:00 PM
From: keith massey	Read Replies (1) of 5053

John Kaiser's news letter just came out. Jordex: looking hard for a non-resource project Jordex Resources Inc (JDX-T: $0.85) caught the market's attention in April as speculators dreaming about an imminent Internet acquisition bid up the price. Bill Staudt of Hamilton Partners LLC is now leading the search for a new project that would put Jordex's $21 million working capital to good use. My feeling is that Bill Staudt, Brian Hinchcliffe and Carlo Civelli are looking for a project that will not fall over if market sentiment toward the Internet sector turns sour. They own about 15% of the 30.4 million issued shares plus options, and in order to make some serious coin from Jordex they will need a project that takes the stock past $10 not just on promotion but on substance. Patience is the name of the game for Jordex, which is now a Technical Hold. Weakness in the market will be the result of speculators losing patience, not negative developments. Tel #: (800) 675-1749. Sounds good...however Kaiser is off a little on a couple of points. 1. He must have writen this last month because the insiders now own over 6 million shares (20% of JDX) 2. According to their last quarter results and adding in the two private placements done since then they should have around $23 million (plus they $1 million from Loma de Niquel). 3. Although they own 20% it doesn't mean that another group "friendly hands" doesn't own another huge chunk. A lot of money crosses hands under the table. Jordex they will need a project that takes the stock past $10 not just on promotion but on substance You have to love that statement. If JDX plans on getting to the NASDAQ this year they need to get the price to at least $7-8. Best Regards KEITH

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