Here is the answer... We can get back the pointer to beginning of the file without need to close & reopen.
Set myFileStream = CreateObject("ADODB.Stream")
myFileStream.CharSet = "UTF-8"
myFileStream.LineSeparator = 13
msgbox myFileStream.ReadText(-2) 'Returns first line
myFileStream.Position = 0
msgbox myFileStream.ReadText(-2) 'returns first line again as expected