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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?

To: Turboe who wrote (3935)	6/27/1998 1:18:00 PM
From: jhild	Read Replies (1) \| Respond to of 11684

Interesting that you should bring that up as proof of anything Turboe. That statement when you parse it out says: The value of the coal + the value of the gas + the value of the property + other properties = $200M Now the real question that has been discussed, probably more than people want to hear, but since you want to bring it up again, is the value of the coal does not take into account recovery costs. Neither does the value of the gas. Interestingly one could argue that the value of the land was it's market value with these resources still in the ground - kind of an ultimate double counting of value. Trotting out that statement by the company does not advance this discussion of value, because of it's just too ambiguous. Audited financials and certified geological reports are the only thing that is going to usefully advance this estimation of Book value/share. Mountain Energy owns and controls the mineral rights in West Virginia that contain approximately 1.98 billion cubic feet of gas and 10,000,000 tons of coal, as well as other properties that all combined, have an estimated fair market value in excess of $200,000,000 with approximately 70,000,000 shares outstanding after the acquisition. This translates to approximately $2.85 per share. This still remains an unclear statement. Any investor relying on this statement should seek additional evidence before accepting this as a fact.