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

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To: Seeker of Truth who wrote (7657)	9/20/2004 1:55:30 PM
From: Taikun	Read Replies (1) of 11633

Hi Malcolm, I took a position in the Canadian Total today: finance.yahoo.com I read their Annual Report 1. 03 revenues doubled from 02, 40% increase in earnings margins. 2. Heavily exposed to drilling in Western Canada-which is growing rapidly 3. Possibly converting to a trust 4. For the six mos ending 6/30/04 grew revenue 40%, net earnings 30% 5. The fund manager David Taylor (no relation), on RobTV, pegged the value at $10+ if in a trust format. P/E is 10.7, for comparison here are a few other CDN service co P/E's PDS: 16.64, SLB 38.96, ESI.TO 13.01 At $5.60 I think this could appreciate 25% just to get to ESI.TO's level. TDG_U.TO's PE is 32.74 As a trust, TOT.TO would be worth much more. Best Regards, David Taylor

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