To Net Hell And Back For Canadian Mining Company
from the go-for-the-gold...-er...-tantalum dept
Here's the story of a Canadian mining company that changed its business around to become an internet company, which is now going back to mining. Of course, in moving back to the "old economy" it turns out that the new metal they're mining, tantalum, is apparently important in very "new economy" capacitors.
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Jackpot Enterprises, Now J Net
http://cnnfn.cnn.com/MGI/snap/4876N.htm
They had completely switched their business model about a year ago, from a slot machine operator to venture fund for b2b businesses. They had a lot of extra cash and thought that turning into a venture fund would provide a higher return-on-equity (ROE) than investing in growing their core buisness.
Now the stock is down to $3.80, and trading at a PE ratio of 3.8. The last investment I could track was eStara, a developer of live Web voice solutions for eBusiness:
http://www.cnbc.com/news/news/conewsstory.html?sym=J&id=307b8478
Wonder if they will switch strategies back to old economoy slot machine operation model or not?
Wonder what their strategy will be.
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zapata?
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Re: zapata?
I believe the last announcement was that zap.com was (1) separate from the fish oil part of the business and (2) dead dead dead.
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Re: zapata?
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