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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: trustmanic who wrote (3455)7/4/2002 10:17:07 AM
From: Lorne Larson  Read Replies (4) of 11633
 
I see both Clearwater and Contrans have now filed their preliminary prospectus. Haven't looked too closely at Clearwater, but did review the prospectus for Contrans. Looks like based on the last 12 months they would have distributed about $1.70 per unit. At a 12% yield this would translate into a unit price of around $14.00. The Contrans shares are presently trading at around $40.00, and each shareholder will get 4 units of the trust for a present cost of $10.00. I note Canadian Business magazine in its current issue quotes an analyst as stating that the shares should move to $56.00, which matches the above numbers pretty closely.

Anybody have any thoughts. I assume a major concern (which in fact is commented on in the prospectus) is that their business is cyclical, and therefore not suited to an income trust.
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