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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Vitalsigns who wrote (2207)	6/8/1999 8:11:00 PM
From: Stephen O	Read Replies (2) \| Respond to of 6016

From Muck at Stockhouse a good synopsis of where we are. "Just thought I would throw out a few ideas on the GLE (glee) and see if anyone cares to comment. Financing? why has one not been done? It seems unusual to me that a company that has an historical price of $1 does not raise ten or twenty million at $10 when they have (had) the opportunity. One possible reason is that they don't have to go to the market because Delphi is going to take a piece of the company. The only other reason that makes sense to me is that the company doesn't want to dillute the stock at this price because they feel confident that the stock is going higher. Saying that they cant raise the money at this level is wrong. They can. I hope they are not making a mistake because twenty million in the kitty would make dissapointing news regarding the Delphi development deal much easier to stomach. The BMW SOFC development deal with Delphi. Must be more than just a coincidence that the deal is announced a week after the purchase order to GLE from Delphi for SOFC's. I dont think that the market if fully taking this into account. To me this is HUGE! Where else is Delphi getting the fuel cells from? Are they making them on their own without GLE's technology? No. Why would Delphi deal with GLE if they already had the technology? Even more so, why would GLE share their technology with Delphi if Delphi was going to go behind their back and deal with BMW? The management at GLE is not stupid. My feeling is that when the final deal with Delphi and GLE is announced you will also have BMW involved. Net buying of 2,000,000 shares over the past 60 days from Sprott Securities, followed quickly by a poison pill from GLE. Coincidence? I doubt it. Who is Sprott buing for? There are three possibilities - their house account, an institutional investor(s), a rival company. Its too big a position to be the house account and its also a pretty big position for a small cap mutual fund in Canada. My guess is that it is either a US mutual fund or rival company. I want to say rival company because it makes for a great story ie. Ballard takes 9% of GLE blah blah blah. Who owns the big position at Sprott? Its a very tough question to answer. Quote from GLE news release April 16 - "This commitment is a major endorsement of our fuel cell work", said Jim Perry, President and C.E.O. "We have been searching for a strategic partner to facilitate rapid progress on our fuel cells development programs, and we are delighted that a company with the resources and reputation of Delphi has selected us as their partner". CHOSEN US AS THEIR PARTNER! Doesn't that say it all? Prediction, this company will have a higher market cap than Ballard in two years." Thank you Muck.