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Gold/Mining/Energy : ZENON Environmental -- Ignore unavailable to you. Want to Upgrade?

To: peter dumbrille who wrote (22)	5/28/1999 10:46:00 AM
From: muskeg	Read Replies (1) \| Respond to of 71

Hello Peter, New to SI, been lurking for well over a year. Have owned Zenon for more than a year, and have been tempted to sell many times. However, after reviewing the '98 annual report and watching how the company has raised money, I'm staying with them. Management appears very conservative and own a high % of voting shares. Add to this that they own a strong proprietary technology and no doubt are involved in one of the strongest future growth industries (H2O), I think we have a long term winner here. My only concern (from AR) is the high cost of sales and services, and low shareholder equity relative to present capitalization. I attribute this to Zenon being new (start-up costs) and the nature of the business as they try to position themselves worldwide. I expect strong growth in this industry, and have decided to hold for the future.... Muskeg