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Gold/Mining/Energy : Madison Enterprise, MNP/VSE -- Ignore unavailable to you. Want to Upgrade?

To: baystock who wrote (244)	4/10/2001 11:30:06 AM
From: rdww	Read Replies (1) \| Respond to of 285

dang right - those pigs are looking at a dead shell - MCE - no biz in it and they have a yr to figger out how to get something into it and then do a RB - in the meantime - the MNP is sucking wind and they are supposedly looking in Africa I thought I read, for a treat to move up the stock. Arf ARf - thse guys deserve no pay till they produce - they have sucked enough wells dry for many years.

To: baystock who wrote (244)	4/10/2001 1:14:31 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 285

RR, I can only agree that the group has lost money for its shareholders in both MCE and MNP. However, dumping MNP at this price in not reasonable. First they have only 46M shares outstanding, not 52M. In options they have 3.3M at $0.17 which is above current prices. They only issued 206,000 shares at $0.12 to cover that 25% of employees salaries. Given their reduced salary expenses, They might issue max 400,000 per year that is if they maintain the same staff. They have $1.9M net in cash which is good for almost 3 years at current rates. They have a resource of 2M ounces that will be profitable at higher gold prices ($325-$350 or so I guess). I would not buy for sure, but I would not dump. There is no doubt that the stock will react very positively to a major advance in gold prices. I could be wrong but that is my opinion.