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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: dave who wrote (63)	1/25/1999 10:11:00 PM
From: keith massey	Read Replies (1) \| Respond to of 5053

Hey Dave... Actually on Sept 30 (the last report) JDX had $21,175,000 cash with $95,000 in debt. They also had their investment in LOMA DE NIQUEL which they valued at $2,958,000 and according to the company will result in moderate future cash flow beginning in 2002. In the 3 months ending in Sept they made $1,083,000 in interest and $1,292,000 in foreign exchange. They had a burn rate of $189,000/month ($560,000 total of which 88,000 was for exploration). If they have continued with this interest income and burn rate with possible foreign exchange benifits they should have around $22-23 million in cash right now with no debt. The presently have 29,067,000 shares out which equals around $.73-.78/share. I know that Brian Hinchcliffe owns around 2.4 million shares but am not sure what the other insiders own. I have not been able to find anything on the Hamilton Group other than what is written on their web page. However I like the fact that they (Hamilton) are putting their money on the line by taking a private place and are also placing a director inside Jordex. It make them sound rather serious about finding a new business plan. From the sound of Hamilton's web page it looks like they are definitely moving out of the mining business. JDX is actively followed by several newsletter writers including Kaiser, Fagan and Bunka. If JDX comes out with a good game plan you can be sure that these guys will get the word out fast. I have been following JDX for a couple of years and have been buying the stock for the past 4 months in hopes of a new business plan. Today's news looks like we are well on are way. Best Regards KEITH