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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (566)	4/17/1999 12:35:00 AM
From: Gulo	Read Replies (2) \| Respond to of 6016

Chief, Keith, et al/ I'm trying to understand the timing of the Delphi release. The warrants were submitted for exercise on Thursday, and the release came out today. Given that a lot of people can't or won't short stock, many warrant exercisers won't be able to trade their stock for at least a week, maybe more. Is this the reason for the timing? Perry has been sitting on this info since at least Monday, maybe even Friday. He intentionally kept a lid on it. For what reason? I don't think I'll have much luck talking to him for the next week or so. Maybe it was simply to increase the impact of each release. I don't know. I certainly have a gained some respect for this company's marketing/promotion savvy, as well as its business sense.

To: keith massey who wrote (566)	4/17/1999 8:23:00 AM
From: AriKirA	Read Replies (2) \| Respond to of 6016

National Post article nationalpost.com Global Thermoelectric soars on Delphi order Fuel cell development Bloomberg News CALGARY - Global Thermoelectric Inc. stock tripled in value yesterday after the company said it agreed to help develop a fuel-cell system for Delphi Automotive Systems Corp., the largest auto-parts maker. Global Thermoelectric shares (GLE/TSE) rocketed $7.21 to $10.70, giving the company a market cap of more than $172.3-million. More than 7.2 million shares changed hands on the Toronto Stock Exchange -- 44 times its three-month daily trading average. The Calgary-based firm, which had $9.1-million in revenue in the nine months ended Dec. 31, is trying to develop a fuel cell that creates electricity and leaves only water as a by-product. It did not specify the size or the value of the order. "It's early days [for Global Thermoelectric's fuel cell] and [the stock] is definitely trading on a single piece of news," said Kevin Binnie, an analyst at Pacific International Securities in Vancouver. Investors are linking Global Thermoelectric to General Motors Corp., Mr. Binnie said. GM, the world's largest automaker, sold part of its stake in Delphi in an initial offering in February and is scheduled to sell the rest by the end of May. Global Thermoelectric said it intends to negotiate a deal with Delphi to develop its fuel-cell project. The initial order will allow the project to begin, it said. There are some similarities with Ballard Power Systems Inc., which is much further along in developing a fuel-cell for use in cars. Troy, Mich.-based Delphi has about 198,000 employees and operates 169 manufacturing plants, 40 joint ventures and 27 technical centres in 36 countries. It had $28.4-billion (US) in sales in 1998. Global Thermoelectric had 15.9 million shares outstanding at July 31, 1998. At the time, three directors owned 38% of the company.