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Gold/Mining/Energy : Gendis TSE:GDS.A -- Ignore unavailable to you. Want to Upgrade?

To: SAM-DAN who wrote (49)	4/1/1999 12:09:00 PM
From: BioInv	Read Replies (1) \| Respond to of 81

Hi there. I had a look at yesterday's press release. As usual ,with GDS.A press releases, it lacks the detail an investor would expect [ e.g.the status of the Tundra sale]. The book value [ at $10] is lower than I had expected given the Feb. press release preannouncing the losses. If I recall correctly, GDS had placed the Net Asset value at approx. $14 in that press release. Any thoughts on two related matters. A]The balance sheet value of investments appears to have dropped substantially more than is shown in the write-down charge plus loss on sale of the PXD shares. B] The change in treatment of taxes. What are the implications of this. Thanks in advance for any insights. PS Given the fire sale of PXD shares I now view GDS as a pipeline company. Probably half of the assets that are left are in Fort Chicago shares [ assuming that they have not sold them and forgot to mention it].