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

To: Claude Cormier who wrote (1254)	10/25/1999 5:05:00 PM
From: Condor	Read Replies (1) \| Respond to of 5053

Hi Claude, Berkshire Hathaway, ICGE or SFE!! Of course the conversation is getting a little heady no doubt based on our enthusiasm for the business plan that appears to be under construction by Jordex. Whether they do the single project, multiple projects, hands off or hands on approaches, the fundamentals remain unchanged a.) JDX has brought heavy talent on board. b.) They have a lot of cash that can be leveraged to do something serious. c.) They are doing their homework "bigtime" on their project(s)as testified to by the number of deals they have reviewed in their quest of the right one(s) as outlined by Keith. d.) The first move into Medsite.com appears to be an exciting serious first item that has not disappointed us in our perception of what this company wants to do and is apparently going to do. I am anxious for the S-1 on Medsite to be out in November and hopefully the main program will start in November also. Until these things happen, the dog and pony show and the reaction to news can't happen. I think that Kaiser was right and its an urgent, top priority buy rec. Good to hear from you, always enjoy your posts. C

To: Claude Cormier who wrote (1254)	10/25/1999 5:06:00 PM
From: keith massey	Read Replies (2) \| Respond to of 5053

Claude I agree that ICGE is getting a ahead of itself right now. They are selling for something like 95 times the last published book value. One of these days they will correct to a slightly more reasonable level. My point was that the public loves this concept for good reason and if JDX was to announce a similar approach with the right partners I would expect a similar reaction although I highly doubt that they would JDX a $13 billion market capital ($500/share) in 3 month <gg>. In a bad bear market almost everything goes down, there is no way to avoid this. However I would have to strongly disagree that in a normally market ICGE would go down and sell below asset value. If you look over the past 20 years you will find that VC firms with approaches similar to ICGE and good connections continuely get returns at several multiples of the S&P. The large number of these firms are private and hold mostly "wealthy" money but their returns are published. SFE has been selling at multiples of its holdings for over 10 years. I hope JDX will go with the traditional approach. Personally I am hoping they go with the ICGE/SFE model since I think this approach carries far less risk and has huge potential. Do you realize that technology companies are now asking 15-20 times revenue for a buy out.... Best Regards KEITH