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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: bhartley who wrote (600)11/12/2000 7:54:10 PM
From: Lorne Larson   of 11633
 
I sincerely hope these guys at MXT remember that people buy these trusts primarily for income. If I want an exploration company I'll buy an exploration company. A little bit of this type of capex is O.K, if there are solid expectations of a decent return. However most oil and gas trusts increase there reserves through the purchase of existing producing reserves (and not through drilling) because they understand that their unit-holders are not risk orientated.

All that to say that I, and I expect the market, will be more than a little disappointed if the monthly dividend is less than .08-.10. MXT can very easily afford that type of payment at todays prices, and still expend around 2 million per year in capex out of cash flow. Any additional capex should NOT come out of cash flow, and MXT is going to hear from me bigtime if that is where they are headed.

Your info to date has been accurate and is very much appreciated. Regards.
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