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

To: knight who wrote (1004)	9/25/1999 8:02:00 PM
From: keith massey	Respond to of 5053

Knight Don't get me wrong, I am also starting to get a little impatient with JDX since I have also been waiting a long time for deal to be announce. However because of the current overpriced nature of the tech./internet sector right now I am giving them a little leeway. I have asked the boys at JDX several times in the past month why the large deal(s) has not been announced yet. They have said they never planned on doing a deal just for the sake of getting one done....and added the normal "the deal could be announced any day or week now" Although they announced a change in business direction last year they didn't start a hardcore search for a new business until a specialist (William Staudt) was brought on in Feb/99. In the 7 months since they start looking they have brought us the Medsite.com deal and have looked at over 50 companies so I wouldn't say they were in anything but sleep mode. Is it really that difficult to identify a prospective venture if the BOD has all expertise like we are led to believe? In my opinion it takes longer to find a prospective venture if the team is experienced. All these 2-bit VSE companies that announce a change in business direction come out with some internet company 4-8 weeks later that they picked up for a few hundred thousand and a bunch of shares. These companies do a quick 2 week run and normally fall back close to where they were before the deal was announced. JDX could have easily done 50 of these internet shell company deals with the cash they had but I would question why they would want to. 1-2 years from now how many of the VSE internet/technology deals are going to be making money?....I would bet that 99% of them don't. The only thing management of these companies did by rushing into a deal was to make money for themselves by pumping up their shares with the mention of a .com and dumping to the public. Best Regards KEITH