QTM 0.00% 2.3¢ quantum health group limited

quantum leap - over the edge

  1. 840 Posts.

    You've gotta love this guy's work!




    Quantum's Tale Of Riches To Rags.

    Speculation's Quantum Leap.

    Margin Call

    14aug03

    WE have found the man who used to own Quantum Energy. His name is Ron and he lives in caravan park on the NSW north coast with his wife Debra.

    We flew up to visit Ron on the weekend and will reveal his story, and the story of Quantum, very soon.
    But not before we speak to Ron's administrators, Hall Chadwick, who have been exceptionally busy in meetings.

    In contrast to Ron and Debra, other executives and associates of Hall Chadwick, via the major shareholder Crisp Holdings, are now sitting on $480 million in Quantum shares.

    Quantum, which makes heaters in a factory in Newcastle, ran to $1 billion in market capitalisation last month amid raging expectations of contracts from China. Good old China.

    This humble pool heater play in Newcastle has become a global renewable energy story. True!

    In the past month, while fervid speculators pumped the stock in internet chatrooms, chairman Leo Respinger and CEO Phil Sidney cashed in some of their shares not escrowed in Crisp.

    This was the quintessential case of "buy the rumour, sell the fact". Rather than heralding a $50 million contract, tipped by the faithful in the chatrooms, Quantum announced "new projects with trials in progress total $3.4 million". Other contracts worth $35 million are "prospective". The stock fell 10c after the fact and closed at 63c yesterday.

    They crave for Crove

    MEANWHILE, the regulators have Quantum in their sights. And Commsec has banned one of Quantum's most ardent admirers, "Crove", presumably fearing action over market manipulation.

    Indeed, some of the spruikers had pushed the envelope somewhat by citing names and phone numbers for Quantum directors.

    It was a sad day for Crove's compadres. "Bring back Crove," said Big Kahoona. "There's a little bit of all of us in Crove (tear)," lamented Perth.



    http://www.theaustralian.news.com.au/common/story_page/0,5744,6947598%255E16942,00.html
 
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