To: Greg from Edmonton who wrote (1790 ) 5/8/1999 1:25:00 PM From: Greg from Edmonton Read Replies (1) | Respond to of 6016
Just a bit more for me to add to what I posted yesterday. At least this latest article (May 7, Reuters) includes all the relevant information and brings it together rather nicely re: GLE/Delphi/BMW relationships. Which is quite unlike the earlier article written by some monkey from the Globe & Mail (ooh, shades of that Molson Canadian beer commercial that nobody really understood). Ballard's response in the Reuters article seems to be one of casual disregard and perhaps to a degree, denial and overconfidence? It somehow reminds me of an interview with Michael Cowpland (CEO of Corel, T.COS) when his stock was around $10 or $15, drifting its way eventually to a low of $1.65.''The financial position of Ballard remains very strong, ensuring our continued capability to obtain the required resources to support our development toward commercialization and our growing manufacturing capability,'' Chief Financial Officer Mike Graydon told analysts and reporters. Ballard President Firoz Rasul said the company monitors developments in fuel cell technology closely and is unaware of any new advances in the development of solid fuel-source cells, but it is continuing to investigate. Rasul said its partners in the development of fuel cells for cars, including DaimlerChrysler and Ford, have investigated using solid fuel cells but found problems with the technology. Blah blah, the familiar taste of IR babble that never really says very much. I'm not saying that Ballard won't meet its objectives, but I find it difficult to believe that a technology company with a market capitalization greater than $3B and so many talented people wouldn't have some whisperings of the potential capabilities of other technologies such as SOFC especially with recent and significant advances in SOFC technology. I am sure that Ballard would at least have an ear to the ground, as to not do so would surely be a mistake.AND the question still remains, who was Sprott buying for?