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

To: blue_chip who wrote (1301)	4/22/1999 8:03:00 AM
From: Kevin Hamlin	Read Replies (2) \| Respond to of 6016

Is all this buying leading to a buyout? Here's my thoughts. The total number of shares, including the warrants, is somewhere in the range of 20million shares. Insiders hold 38% of these, making the available float very very small/tight. In the past week, Sprott has accumulated over 1.2 million shares. Now if that is just "fund buying", there are a few questions that don't quite makes sense to me. 1) As a fund manager, would you purchase that many shares just to hold in your fund? You now hold over 5% of the entire company's shares. At some point, liquidity has to become an issue when you want to get back out, and with the float that tight, that wouldn't be easy. OR 2) Maybe it is buying in the market with no intention of getting out, i.e., buy as many shares as possible in the market well below your offer price for all outstanding shares, i.e., an impending buyout. OR 3) If it IS just a fund buying, they must be so overwhelmingly amazed by what this company has in store, that they are willing to purchase this many shares knowing they will be able to move them at a MUCH higher price later, liquidity issues aside. Whichever scenario it is, there looks to be a significant upside on GLE. Just my opinion, but I wouldn't be surprised if it turned out to be #1. Whichever scenario it is though...we'll win! Kevin