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Gold/Mining/Energy : CADIZ LAND CO (NASDAQ:CLCI) -- Ignore unavailable to you. Want to Upgrade?

To: Jamie Myers who wrote (32)	3/5/1998 12:54:00 AM
From: Dan Packer	Read Replies (1) \| Respond to of 50

You are not looking for advice to buy or sell, and I won't give it. I will give you my opinion about some aspects of the company. The operations are dominated by the farming company. I would expect that their farms would be negatively impacted by the El Nino rains. Since the farming is low margin anyway, I would expect near-term reports to be bad. Regarding the water, I consider them to be hypsters. There may well be a near term report about the use of Cadiz basin as storage for MWD. This too would be hype because MWD has cheaper ways to store. Further, there is no plumbing into that basin. And worse they don't own the right of way. Finally, the EIR for such a use should take years. So an announcement could boost the stock, but not boost the business. I might expect this sort of thing to paper over the bad farming outcomes. Their litigation with WMX grinds on. Can they win? I don't have a clue. Management is thin, and very bad. Look back at old proxies to see backgrounds. They have been sanitized in the most recent ones. I would love to see the price boosted because I believe it could be a nice short. I don't think it will go to zero because there is something very odd about the financing that they get in Europe.