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

To: Eric123 who wrote (39)	3/18/1998 9:10:00 AM
From: Dan Packer	Read Replies (1) \| Respond to of 50

The only answer I can give you has something to do with tulips. If speculators want to bid up this thing, so be it. I'm not sure that it's the job of the SEC to investigate every company. Actually this company has been rather straight up about their business. They have always said that their profits are in the future. My problem is that the future is too far into the future. There are lots of good businesses out there that actually make money now. I would rather invest in one of them. Actually the management does have experience in produce. My problem is that their experience has not demonstrated the ability to turn a profit. I'm not sure what they are doing different at SunWorld that will turn it around. I encourage someone to educate me. Re: their Cadiz water project - and this is what has driven the stock price up IMHO - there are significant difficulties. Their original concept was to do water mining. In the past they adjusted the claims of water available for export to cover the capital costs and returns needed to justify the plumbing costs. The amount of water they claimed was available for export was 2-3X what they currently state. Right now they have no plumbing at all and no prospects for it. They have a good idea - use the basin for storage. The problem with that is that the Colorado river water that they propose to store there will significantly degrade the water in the Cadiz Basin. This is an issue that will get them in the future. Putting Colorado River water in the basin is probably more dangerous than the Dump ever would be. Their Homer-Piute basin is simply bogus. Will traders push the stock price higher? Sure. I hope they push it into the 40's or 50's. I'll short it like crazy. At this level -? Shorts don't kill companies. Bad management kills companies. This company has bad management. If I'm wrong about the underlying assumptions, the company won't even notice shorts. In fact the shorts represent buying power. This one's fun. No reason for the SEC to bother with it. Let the market deal with it. Dan