Franco-Nevada (FN - TSE) - zero debt, cash rich royalty co. Message Board

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Gold/Mining/Energy : Franco-Nevada (FN - TSE) - zero debt, cash rich royalty co.

FN 438.00

-1.3%

Oct 30 5:00 PM EST

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To: Tom Gordon who wrote (437)	6/12/2001 8:45:41 PM
From: Traveling Man	Read Replies (1) of 511

Gents, Just finished reading the entire 2001 annual report. One thing that sticks out. FN has decided that they cannot grow the earnings any longer with the old royalty deals of the past due to the extreme depression in AU POG. Thus,their strategy from here into the intermediate future will be to repeat their Normandy deal. They use a small quote of Warren Buffet about purchasing "uncontrolled" parts of prosperous companies. Bottom line,management has decided to purchase non controlling interests in the future of profitable commodities players. They feel it will lead to great wealth expansion over time. TM

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