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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: john dodson who wrote (19980)	3/25/1999 9:34:00 PM
From: puborectalis	Read Replies (1) \| Respond to of 90042

MINE..check out their website..topnotch.....................MiningCo.com soars on first trading day By Per H. Jebsen BLOOMBERG NEWS MiningCo.com Inc., a search service that employs human guides to help users find information on the Internet, more than doubled on its first day of trading. The New York-based company rose 29 1/2 to 54 1/2, after touching a high of 62 1/4. About 5.5 million shares had changed hands by midafternoon on the Nasdaq Stock Market. MiningCo "is a significant Internet property," said Ken Fleming, a research analyst at Greenwich, Connecticut-based Renaissance Capital Corp. "They do have real traffic, and there's big demand for companies with real traffic." Over 4.6 million users visited MiningCo's network of 600 web sites in January, making the company the 26th-largest Internet property that month, according to the company's filing with the U.S. Securities and Exchange Commission. In January 1998, the company was No. 121, according to Stacie Leone, a spokesperson at Media Metrix Inc., an Internet audience measurement firm. MiningCo's significant number of visitors makes the company a potential takeover target for more established companies interested in acquiring a presence on the web, Fleming said. Investor demand for Internet initial stock sales has been strong. Yesterday, Autoweb.com Inc., an online car seller, almost tripled on its first day. Last week, iVillage Inc., which runs Web sites with news and information for women, more than tripled on its first day. $75 Million Raised MiningCo.com sold 3 million shares at $25 each yesterday, raising about $75 million before expenses. The shares were priced at the top of the $23 to $25 range set by Bear, Stearns & Co., which handled the sale. On Monday, Bear Stearns raised that range by 85 percent, from $12 to $14. The sale represented about a 26 percent stake. Each of MiningCo's sites is focused on a specific topic and managed by a human guide. The sites are annotated Internet directories that include pre-screened links to other web sites. The sites also provide content created by the guides as well as online forums. The company's network is organized into 18 channels, such as arts/literature and sports, each of which is further divided into sections such as books/authors and fishing/hunting. There are 105 sections, according to the IPO filing. "It's a more efficient way to search the Web," Fleming said. The company, incorporated in June 1996, lost $15.6 million in 1998 on revenue of $3.7 million. It lost $8.6 million in 1997 on revenue of $391,000. The company had an accumulated deficit of $27.9 million at the end of 1998. Most of MiningCo's revenue come from selling ads on its web sites. "The revenue model is very early stage," Fleming said. In the company's favor: "Advertisers want to be on top sites" such as MiningCo, Fleming said, and the company's separate subject sites allow advertisers to "target specific audiences." Still, he added, "they don't have much advertising at this point." MiningCo.com will use the proceeds from the offering to increase its sales and marketing efforts and hire additional advertising sales personnel, the company said in its IPO filing. MiningCo.com trades under the symbol "MINE." Volpe Brown Whelan & Co. and Wit Capital Corp. assisted in the transaction. ............... To: stephen karasick (129 ) From: WallStreetTips Thursday, Mar 25 1999 9:32PM ET Reply # of 130 MINE >>> $100 in 1 month >>> STRONG BUY Just my views.