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

To: Condor who wrote (1552)	11/7/1999 4:40:00 PM
From: bargainman	Read Replies (2) \| Respond to of 5053

Condor -- I'll agree with you that there at least appears to be an opportunity worth watching here. But Canadian shell companies (one-time mining penny stocks that recreate themselves as something else) have a terrible reputation around the world as insider-manipulated deals that too often leave the average investor holding an empty bag. I'm not saying that is the case with Jordex. But in poking around the archives of Canada Stockwatch I came across the following: Tuesday Sep 5 1995 In its Saturday edition The Vancouver Sun tracks the export of Arakis Energy's stock to tax havens around the world. Writing beneath a stylized map of the world, with arrows emanating from BC and going in all directions, reporter David Baines tracks the paper exports to Grand Cayman Island, The Bahamas, the Turks and Caicos Islands, Switzerland, Liechtenstein, The Channel Islands and Pakistan. The story chronicles the role of VSE regulars such as Nassau's Martin Christen and Liechtenstein's Rene Simon, who goes back to the Commonwealth Group's scandal in the late 1960s. Even front-man Carlo Civelli, who British investigators identified as a conduit for suspicious dealings, shows up in the story. The Sun notes that these links are part of a larger VSE network that regularly uses front-men to hide the identities of the real players. Regulators either do not see them or refuse to acknowledge their presence, says Mr Baines. (c) Copyright 1999 Canjex Publishing Ltd. Canada Stockwatch has noted in numerous articles Mr. Civelli's suspected role as a front man for unidentified interests, some with Swiss bank accounts and others who are believed to be insiders from the same Canadian companies he has helped to finance. Mr. Civelli has also been involved with some of the most infamous pump and dump artists on the Vancouver exchange. All that material is available to anyone who subscribes to Canada Stockwatch. That said, I have no reason to doubt the vaunted potential of Medsite and may, in fact, take a look at it when it IPOs. All I'm saying is that before one buys into Jordex as a route to partaking of Medsite stock make sure there are adequate protections in place for the small shareholder. They play by very different rules on the Canadian exchanges, which are all regulated by provincial commissions with competence ranging from semi-adequate to nil. There is no Canadian equivalent to the SEC. Just a word to the wise. By the way, is that $20 million cash hoard I keep hearing about in U.S. or Canadian dollars?