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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: LLCF who wrote (309)4/28/2000 9:06:00 PM
From: Braincramp  Read Replies (1) of 11633
 
Have a look at MXT.UN. These guys run into some problems last year, when their banker told them they had to much debt, this caused them to cancel distributions for 99.
However things have changed for the better, their debt is dropping by 1.4 million a month and their bank should give them the go ahead to reinstate distributions any day now.
What I like the best is they only have 12 million shares, this means with current cash flow they should be able to pay
a buck or better and with the share price at 2.50 return should be 40% or better. They also have a 19 year reserve life well worth looking at.
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