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Gold/Mining/Energy : Cantrex CXN

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To: Scott Mc who wrote (4)	8/28/1997 9:40:00 AM
From: M. Merriam	of 13

Hmmm... I hadn't thought of that. Might be a good idea, although Edmunston isn't that close to me, either. (I just checked the map--there and back would be pushing 1000 km.) To tell you the truth, I wasn't overly excited when I read about that new concept. What does have me interested is their new Corbeil Appliances network. Those stores focus on household appliances with the moto, "Always the widest choice--always the lowest price." My hope with Cantrex is that people buying in now are getting are getting it just as their earnings are rebounding. Earnings over the last five years are below. (Keep in mind my opinion that these earnings are understated because of amortization of goodwill.) 92 0.77 93 0.83 94 0.46 95 0.35 96 0.36 Cantrex and its independent merchants have been hurt by the tough retail climate (superstores, Walmart) as of late; however, I believe that they are building the strategies to adapt. With improving consumer confidence and with what they've learned in the past few years, I'm looking for Cantrex's figures to improve. My long term goal is to see this company trade at or above its book value. A shorter term goal would be to see it trade at a more reasonable PE (10-15). --Mike

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