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

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To: Scott Mc who wrote (422)	7/1/2000 11:52:17 AM
From: Lorne Larson	Read Replies (1) of 11633

I've been gradually increasing my position in MXT over the past month. Also have a large position in PWI. Don't understand why PWI hasn't moved more - with a payout of .16 per month they're showing a yield of close to 25%, and have a nice gas weighting. Also have some SHN, and started buying some VKR. Still kicking myself though for letting ERF.G get away on me. I'm still amazed at the general lack of market interest in the oil and gas royalty trusts. If you price these things for a yield of 15% most of them are undervalued by 40-50%. I haven't done the math but my guess is that they're being valued based on a price of around $22.00 per BOE. Market obviously doesn't think the present prices will hold. I think otherwise, especially on natural gas. In any event I'm quite happy to earn 20% in the meantime.

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