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Gold/Mining/Energy : Sedna Geotech (SOT.V), explosive growth PE of 7 -- Ignore unavailable to you. Want to Upgrade?

To: Traveling Man who wrote (36)	3/26/1998 11:51:00 PM
From: Steve Reichle	Respond to of 68

TM: I haven't given up all hope on this one yet. I'm not impressed by the share price action but I do believe there is light at the end of the tunnel. I suppose indirectly SOT is a play on the POG as well as the price of other base metals. A sharp recovery in the price of gold would likely bring SOT's share price back to life. What I'm debating now is whether I should average down on SOT or maybe put some money into Major Drilling (MDI:TSE). MDI seems to be having the same problems as SOT--weaker earnings due to reduced revenues from South American operations. Sedna's current stock price is indeed enticing but it's the usual dilemma: so many companies, so few dollars. Regards, SR

To: Traveling Man who wrote (36)	3/27/1998 1:16:00 AM
From: mariner	Read Replies (1) \| Respond to of 68

Steve Company statements for 9 months ended 31 Sep 97 indicate current assets of 7.4million (all figures US $), current liabilities 8.4million, of which 5.5million was the current portion of long term-debt. I wonder how they are refinancing this, particularly given the low share price. Hopefully they are not issuing more equity at this level. I'm not sure when the big Soros deal was. Perhaps that was used to settle this. I guess we should expect end FY numbers soon. I believe you're correct that business is not growing as quickly as expected due to the low POG. They are doing other work, for instance water drilling. If one is a gold bull (I'm not) SOT still possesses good potential. Would be nice to see more PR though.