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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: Carl Santavicca who wrote (2479)	5/21/1998 4:53:00 PM
From: david james	Read Replies (2) \| Respond to of 2841

There are both good and bad sides to a bond debt of this magnitude. The primary bad side is that Eco will now have interest payments of around $12 mill/year. On the positive side, a number of institutions must haven take a close look at Eco and determined Eco was not likely to have any problem paying off this debt. It also says that a major institution (Jefferies) took a very close look and came away willing to recommend Eco (as far as their bonds at least) and willing to put their name behind Eco. Hopefully, this will result in at least a buy recommendation from Jefferies - with some sort of target price. They gave SHAW a price target of $36 which has a bit better earnings but roughly the same revenues. This should also provide enough cash to allow Eco to grow comfortably. We still haven't heard anything about MM Industra acquiring and expanding into that Pictou site mentioned a couple months ago. Could be they were waiting for this. Still like to think they have something that will help move this stock by next Thursday. David P.S. might go to the Annual meeting since its within driving distance.