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   Gold/Mining/EnergyIMARK Corporation (IAK was Durkin Hayes DHP)


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To: Pierre J. LeBel who wrote (4)2/20/1998 11:32:00 AM
From: david
   of 57
 
As you can see from the chart below (sorry for the slant), most of the selling is coming from one house. It is discouraging, however, to see trades like this happening right before earnings are to be announced. With a company like DHP it is likely that the seller knows something that we don't. As a stated in my first message, it may be wise to wait for the year end results to come out before making any decisions. At 20 cents though, it is quite tempting to get in there.

Time Price Change #Shares Buyer Seller
9:47 0.2 -0.08 20,000 084 Independent Trading 063 Levesque Beaubien
9:44 0.2 -0.08 12,000 084 Independent Trading 063 Levesque Beaubien
9:42 0.2 -0.08 12,000 009 Nesbitt 063 Levesque Beaubien
9:30 0.255 -0.025 17,000 011 Yorkton 084 Independent Trading

Good Luck and keep your eyes open,

Daniel

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To: david who wrote (5)2/20/1998 1:12:00 PM
From: Pierre J. LeBel
   of 57
 
Thank you David.

I sent a fax to Don Matheson earlier today asking if any corporate developments could account for the substantial drop yesterday and today. No response as yet. Will let you know if I hear from him.

In the meantime, you are right: .20 looks very tempting.

Have a very nice day.

Pierre

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To: david who wrote (5)2/26/1998 1:35:00 PM
From: Pierre J. LeBel
   of 57
 
I never received a reply from Mr Don Matheson to my fax last Friday. In the meantime, the stock is catching fire and trading at .32 on very heavy volume!!!

Do you know something I do not know?

Have a very nice day.

Pierre

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To: david who wrote (5)3/2/1998 7:27:00 AM
From: Pierre J. LeBel
   of 57
 
Algonguin Mercantile has sold about half its interest in Durkin Hayes in a private placement. No price or terms were made public. It will retain a 20% ownership.

What does it mean to minority shareholders?

Pierre

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To: Pierre J. LeBel who wrote (8)3/2/1998 1:51:00 PM
From: DANIEL
   of 57
 
PIERRE, SORRY I HAVEN'T BEEN IN TOUCH OVER THE PAST few days. The shares were purchased from algonquin at 67 cents per share. Alqonquin claims that the transaction was unsolicited. This is an encouraging piece of news for DHP shareholders as it has brought a new party to the table who is most likely interested in taking over, or at the very least exerting control, over DHP. The best way for the buyer to get a foothold in the company was obviously to buy share from a contol person. Algonquin has made two acquisitions since they took their position in DHP and their cost of DHP shares is probably about 55 to 60 cents per share (with some of those purchases being paid for with shares). There is no doubt that DHP has not performed the way Algonquin expected and this was an opportunity to take some of their money off the table at a profit(they probably recovered at least all the money they paid in cash for the DHP shares) and therefore have some cash to invest in their new business.

The bottom line is that there is a strong likelyhood that the purchaser of the shares will make a TOB in the next few months. Based on canadian securities laws, they would have to make an offer of at least 67 cents a share in cash. Before that may happen, though, DHP 1997 results will definately be out. Lets hope the results don't scare this new investor away.

Regards,

Daniel

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To: DANIEL who wrote (9)3/2/1998 3:22:00 PM
From: Pierre J. LeBel
   of 57
 
Thank you for the information.

Have a very nice day.

Pierre

PS - Would you know if the buyers are related to Qwerty Learning Systems (operating as Academy of Learning)?

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To: DANIEL who wrote (9)3/5/1998 8:32:00 PM
From: Pierre J. LeBel
   of 57
 
Something is cooking...

Trading has been unusually heavy in DHP in the last week or so with the price more than doubling from the .20 low of two weeks ago. Most of the buying seems to come from Midland and Nesbitt.

If a takeover is announced at .67 within the next few weeks, the stock is still a bargain at the current price of .45, offering a quick 50% net profit. (AM also jumped 15% from $ 4.50 to $ 5.25 in a week!!!)

Any comments?

Have a very nice day.

Pierre

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To: Pierre J. LeBel who wrote (11)3/5/1998 11:55:00 PM
From: Bron-y-aur
   of 57
 
pierre, something may be cooking

spoke to dhp mgmt yesterday and they have not had any contact with company who bought private placement from alonquin. for sure there is excitement about the new packaging on some of the audio line, and also some strong interest by some us retailers in same which is contributing to share price increase. another factor could be sentiment that harlequin romance series should be a winner especially at the price point of $7.99 (in us i believe) for a double cassette package.

swamp critters off to slow start, but am told that this is how characters like Barney started out - takes time. apparently jc penney will have some swamp critters merchandise offered in their christmas catalogue.

re take over - like the rest of you folks, cant help wondering why the pp was at .67 rather than buying slowing on open market for less. maybe the difference is a drop in the bucket for the buyer and couldnt be bothered?? anyways would think that we should float up to at least .67 soon. think what may be keeping it back is next q results which may not be great.

sam g

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To: Bron-y-aur who wrote (12)3/7/1998 11:54:00 AM
From: Pierre J. LeBel
   of 57
 
"... should float up to at least .67 soon."

WOW! Talk about an understatement!

DHP rocketed 76% last week (from .30 to .53). At that rate, they will "float" to .67 by Tuesday afternoon or Wednesday morning!

Midland and Nesbitt (to a lesser extent) keep on coming with market orders for 10,000 to 25,000 shares at the time: it is almost panic buying! Also, it is interesting to notice the lack of sellers under .65!

Next week should prove to be most interesting if that trend continues.

Have a very nice day.

Pierre

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To: DANIEL who wrote (9)3/17/1998 12:05:00 PM
From: Pierre J. LeBel
   of 57
 
Trading in DHP has been rather quiet over the last week and a half, since the run from the mid 20's to .53.

Any word as to when we can expect earnings to be released?

Have a very nice day.

Pierre

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