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

To: Nick Morvay who wrote (4796)	9/25/2000 10:50:46 AM
From: Condor	Read Replies (1) \| Respond to of 5053

ITE vs. ELAS re-cap: ITE purchased 281479 shares of ELAS at $5.33 U.S. We started with $14,500,000 U.S. Our ELAS investment was approx. 10 % of our worth. Our cash on hand is US $4,500,000 Our burn rate is still very low at about $US 56,000/month If ELAS goes off at $US 20/share (it may very well do much better than that) our US$ 1,500,000 becomes US$ 5,629,580 and our US $14,500,000 becomes US$ 18,629,800. That would mean the ELAS investment rose to 375% and our "net worth" rose to 121% This is all based on ELAS at $ 20. Let's see how it does as it comes to trade this week.