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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: cool who wrote (12349)	4/30/1998 7:19:00 AM
From: Wayne Rumball	Respond to of 34592

Earlier this week I mentioned Diamondworks (DMW.TO) to a few people with the expectation of a 1Q profit. I was wrong. The decided during the first quarter not to sell any of their diamonds, so they are only shown as inventory at cost of production. Furthermore management has no plans to make any press releases in the near future. It looks like they are trying to keep a lid on share prices until after the July 15 deadline for 12,121,697 warrents that will expire with an exercise price of 1.65. They have sold part of their inventory in March (Net $2.25 million) and will sell another 15,000 carat parcel in May (expect net $3 million to 4 million), plus diamond inventories will increase for a net 2nd quarter profit of 0.04-0.06/share. (But don't expect to see any 2nd quarter results until after July 15!) So this is still on my buy/accumulate list at 1.30 and under.