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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (717)	7/18/1999 11:29:00 PM
From: keith massey	Read Replies (1) \| Respond to of 5053

Claude You are correct, I went and tripled checked. $20.4 million in cash $1.5 million in Medsite.com $1 million in Loma De Niquel Debt-free These total assets work out to .76/share with .68/share in cash and .05/share in the Medsite.com investment. Of note: During this same quarter last year the company had total cash and investments of $19.8 million (period ending March 31 1998). This means they have been in a negative burn rate for the last year (positive cash flow). Their asset (cash and investments) not including Loma De Niquel have increased it by $2.1 million in the last year. Only $700,000 of this came from private placement money. The rest has come from interest income and foreign exchange gain. Try and find me another cash rich ex-mining company that has more money now than they did last year....I'll bet you dollars for donuts you can't find one. As a very funny side note......if you forget about the resource write off last year and the gains from the recent private placements they had earnings of $1.4 million last year or .05/share. So technically based on last years earnings we are selling at a P/E ratio of 16. The average P/E ratio for a tech. company is now far over 25. Of course I am joking around about the P/E but the numbers speak wonders about the management's ability to keep and increase shareholders value even during bad times (e.g mining industry last two years). Best Regards KEITH

To: Claude Cormier who wrote (717)	7/19/1999 3:26:00 PM
From: marcos	Read Replies (2) \| Respond to of 5053

Ah, you're right again, as usual ... i had forgotten to add the PP paper to shares out, and the PP cash to the kitty ... you can likely add a penny for interest income to date, so ~.68/sh eh ... although the expenses may have increased since they're actively researching deals, but i highly doubt that there's a burn rate happening, we're likely still enjoying a healthy P/E, like keith says. One non-SIer I know [hola A.-g-] has a few jdx now but is still hoping to catch a position in the .70s in the event of a general market selloff, and if not he'll be in on the run, he figures .95 on volume is a breakout. No, i haven't seen dmw's powerpoint file - don't have that plugin on my hard drive and am leery about putting too much stuff on it ... i suspect it's quite dated, i think i remember it being there last year, not sure though. Yes, beaucoup paper out on dmw, eh ... thing is, I smell M&A action, also proximity to positive cash flow on Yetwene and Luo alone, also a startup on Koidu now that Sierra Leone is settling down ... it's got a market cap of less than twenty millions US today, and when you line that up against the assets, it looks ultracheapo to me. Even for Africa, which - granted - is a horror show. If I had the cash I'd be picking up cnb ... also suf, they have an interesting JV together in Brasil ... also wsp, today [what the hell are people thinking!] ... more aah, more camp on the Nas ... and hey - also more jdx -g- ...... cheers