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

To: Wayne Finucan who wrote (81)	2/8/1999 9:13:00 PM
From: keith massey	Read Replies (2) \| Respond to of 5053

The last two private placement were not done for the cash. They were only done to load up connected individuals (the Hamilton Group) and insiders (Mr. Civelli) with shares. Prior to a run-up insiders often take down large blocks in the form of cheap private placements. What makes the private placement to Mr. Civelli so unusual is that it was done at the current price. I was in a similar stock to JDX last year. SNA was a cash rich junior bouncing around the bottom at .16-.20. They also announced that they were looking for business activities outside the mining industry and had no projects on the go. I bought some shares at .19 hoping for a good story. A couple weeks prior to the news the insiders took down a private placement of 3.75 million shares at .15 although they didn't need the cash. A couple weeks later they announced they were getting into the electric fingerprinting business and the stock gapped open to .52. The stock has dropped down to .25 since then but I got out on the day of the news release so I really don't care. I can only hope that JDX comes out with a similar marketable story. Best Regards KEITH