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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: kingfisher who wrote (764)3/5/2001 10:37:56 PM
From: Lorne Larson  Read Replies (2) of 11633
 
The key to the Cypress deal was the immediate hedge of most of the production going out for about 1 year. This negated to a large extent the risk imposed by the higher debt taken on by PWI. As a result I could never understand (and still don't) the sell-off of PWI. Also the wholesale dumping of CYZ (almost 75% of the float traded after the announcement) isn't looking very bright right now, although this might have due to some extent to funds which held CYZ but couldn't hold a royalty trust.
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