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Gold/Mining/Energy : Magin Energy-MGY on TSE -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (48)	5/24/2000 10:26:00 AM
From: kingfisher	Read Replies (1) \| Respond to of 92

Hi Bearcat, Just received a response from Magin management to a recent enquiry.Magin will have no problem meeting the accelerated development of Copton. Forecast cash flow is $53,500,000 with $45,000,000 capital expenditures. $12 million is budgeted for Copton. Using a fully diluted number of 34 million shares(ignoring the 5 million warrants priced at $9.50 expire Sept.1 2000) I have calculated cash flow of $1.57 per share. Shares at $3.75 are still trading at less than 2.5 times cash flow for fiscal 2000. Take Care, Richard