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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Tommaso who wrote (15427)12/3/2002 10:15:55 PM
From: Cogito Ergo Sum  Read Replies (2) of 206347
 
Hi Tommaso,
There is also PWI.UN which now trades on the AMEX as PWI for diversification. It is not as liquid primarily I think because they reverse split a while back and it's about 2.5 times NCN price wise. Dividend is comparable. They have recently internalized management. I haven't had time to check out all the numbers but it appears to be accretive to distributions (ie. fees for acquisitions and dispositions are out). They incurred too much debt during the last bubble and had marginal exposure to Enron but their hedging is OK so from that standpoint not as leveraged as NCN but still a happy cash machine. I'm kinda looking to add more a bit lower FWIW if possible. I've owned pretty well consistently from the bubble times. You are bang on re: the liquidity of NCN vs many other CanRoy's. As a bet on rising NG prices though NCN is a better bet (I have a starter position now but am loaded with AVN.UN, PWI.UN, AE.UN. I personally wouldn't own just one though. I actually unloaded my FAP (FAX) recently and rolled it into AE.UN, NCN and some more of that gold stuff.

I traded NCN during the bubble when you brought it to the board's attention a few times (on SD ?) I don't think much has changed with it since then.

Again I personally wouldn't own just one but I'm chicken....

regards
Kastel
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