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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: David Culver who wrote (414)	6/29/2000 4:03:00 PM
From: LLCF	Read Replies (2) of 11633

He returned my call very quickly, that was nice... main points: * One thought was for MXT to get debt down to 1x cash flow, the best {among the best?} in the industry by the end of the year. "With prices as they've been we're way ahead of that paying down debt. * Trying to set up credit facilities, been going back and forth... between term facility {5 to 7 yrs} and demand facility. Term fixed, but then if prices plumet again the terms of such {coverage} could become a problem again... other loan floating, leaning that way now. Loan should be resolved in the next month... IMO [not company's] it sounds like this is what they are waiting for to make any distribution announcements. Banks don't like Term as much as demand because the reserve requirement is higher... 15% vs 7%. My take on all this makes me wildly bullish, I'm buying more tomorrow. DAK

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