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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Cogito Ergo Sum who wrote (19583)	3/4/2003 12:34:47 PM
From: tommycanuck	Read Replies (2) of 206087

Hi KastelCo; Please fill me in on how the Canadian Royalty Trusts are replenishing their reserves...I am in the JimP camp on this one...The trusts have had the luxury of buying cheap, quality reserves over the past few years but have little access to those anymore. The purchases now, their only visible means of adding to their reserves, are much smaller and of lesser quality than previously. They are mandated to spend little on the continued maintenance and development of the assets they have. Any benefits being received by the holders right now come totally from the previous good fortune of building the fund in times of lower pricing. It may be premature to call them a ponzi scheme yet but in my mind there will be a day when that reference is made. They have run the gamut...the easy money has been made and significant risk exists in my mind. If you had to deal with the trusts on a daily basis you would come the same conclusion. Just my opinion but if it was my money I would be aware of all the issues. Regards TC

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