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Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: Surething who wrote (1884)	12/10/1997 2:06:00 AM
From: Ed Pakstas	Respond to of 11676

TO ALL: In light of the BS that the papers are printing, I smell a deadcat bounce on the way (which may present a trading opportunity) in the morning... Either that or, I'm sorry to say, a trading halt, pending an investigation into the trading activities of the DML/NAI... G'night... ...ed

To: Surething who wrote (1884)	12/10/1997 2:11:00 AM
From: Ed Pakstas	Read Replies (2) \| Respond to of 11676

Hey Surething...You realize our investigation took less than a 1/2 an hour...Wonder how many dollars the exchanges are going to eat up to conduct theirs???...ed

To: Surething who wrote (1884)	12/10/1997 2:14:00 AM
From: Ed Pakstas	Respond to of 11676

Speaking of the so-called culprits, check this out... Marleau co-founder quits top posts Firm scrambles for a leader after latest high-level dpearture Tuesday, December 9, 1997 By Karen Howlett Financial Services Reporter Montreal stockbrokerage Marleau Lemire Inc. was rocked by more management turmoil yesterday with co-founder Hubert Marleau's abrupt departure from the helm. Mr. Marleau, 54, stepped down as chairman, chief executive officer and president of the parent company and its subsidiaries, leaving no one filling his shoes. The company said in a news release that the board of directors "is putting in place a 90-day action plan to forcefully and dynamically address the leadership issues of the company and formally develop a succession plan." The statement also said that the company expects its financial results in the fourth quarter to be "negatively impacted" by lower stock valuations in its own trading portfolio. Mr. Marleau's resignation comes two months after Marleau Lemire parted company with the head of its brokerage subsidiary. Paul Moase resigned as CEO of Marleau Lemire Securities Inc. in October and was replaced by Mr. Marleau. Investment industry sources said the revolving door reflects the fact that Marleau Lemire's biggest shareholder, Dundee Bancorp Inc., has run out of patience waiting for the stockbrokerage's fortunes to rebound. Dundee, a Toronto money management company controlled by financier Ned Goodman and his family, owns a 19.8-per-cent equity interest in the stockbrokerage. Richard Renaud, a former Dundee partner, is heading a four-man special committee of Marleau Lemire's board that will put the action plan in place. Another director, Brahm Gelfand, is a personal friend of Mr. Goodman's. "I think they're trying to help Ned out of a problem," one of the sources said. But Mr. Goodman said yesterday that Dundee is a passive investor. While he conceded that he knows everyone on Marleau's board and that many of the directors are his friends, he said the board is not acting on his instructions. "I'm unhappy that the company hasn't done well and I'm unhappy that the stock is trading at prices lower than we paid but we're long termers," Mr. Goodman said in an interview, adding that he had "nothing to do with with Mr. Marleau's resignation." Marleau Lemire's shares closed at $4.25 each yesterday on the Toronto Stock Exchange, down $1.05. The company, one of only a handful of publicly traded stockbrokerages in Canada, earned $1.8-million or 34 cents a share in the third quarter ended Sept. 30. This compares with a loss of $898,000 or 16 cents a share in the same period a year ago. The sources said Marleau Lemire's earnings are volatile because it is overly dependent on trading in its own portfolio. Mr. Gelfand, the director, would not say in an interview yesterday whether the reduced valuations of some stocks in the company's trading portfolio will push it into the red. The company has embarked on an ambitious cost-cutting program over the past two years in a bid to improve the bottom line. Mr. Marleau said in October when he took the reins of the brokerage subsidiary from Mr. Moase that the company needs to build revenue in all areas of the business -- securities trading, sales to individual and institutional clients, and corporate finance. Marleau Lemire's strategic direction is now in the hands of the special committee of the board, whose primary function will be coming up with a plan to "increase shareholder value while ensuring that the capital of the firm is protected." Mr. Marleau will remain on the board of directors of the company he co-founded in 1989 and stay involved in it as a stockbroker, the company said. He was travelling yesterday and could not be reached for comment. His departure from Marleau Lemire follows his resignation last week from the board of Ste-GeneviŠve Resources Ltd., whose publicly traded subsidiaries have reported in recent weeks the disappearance of $22-million. Mr. Gelfand said yesterday that the two resignations had nothing to do with each other. Mr. Marleau's departure appears to pave the way for a return engagement at the company by the company's co-founder, Andr‚ Lemire, who will sit on the special board committee. Mr. Lemire stepped down as president of Marleau Lemire earlier this year and sold most of his shares to Dundee, making it the biggest shareholder. Dundee attempted to take over the stockbrokerage but the talks fell through when Mr. Marleau indicated he had little interest in negotiating a sale of the company until it starts generating more revenue and profit and he could command a higher price. The observers said yesterday that Dundee will be able to exercise more influence now that Mr. Marleau's role has been substantially reduced. "The bottom line is that today the company has no soul," one said. "Hubert, like him or love him, was the soul of the company." Investor impact There's no more Marleau in Marleau Lemire Inc. Co-founder Hubert Marleau quit as chairman, CEO and president of the Montreal stockbrokerage yesterday and the stock price hit the skids. The company announced a "90-day action plan" to put the firm on a more even keel. MRM-TSE 52wk HI $8 52wk LO $4.25 Close $4.25, down $1.05.