Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Taikun who wrote (55996)	11/16/2004 2:19:07 AM
From: Seeker of Truth	Read Replies (2) of 74559

Hi David, $140 per share for Cameco does seem too high for now. However in eight months the hedges will start coming off and the market looks to the future. Their profits can increase without either an increase in production or an increase in the uranium price. Not a bad prospect. At the moment the real bargain, I think, is CNQ, Canadian Natural Resources. Management expects to increase production by 10% in 2005 and the number of shares will stay fairly constant. In addition if oil averages $42.50 US a barrel and the Canadian dollar averages 79 US cents then they expect earnings per share in the range of $6.35 to $7.10. I have sold some puts on this. Hope everything is improving for you. MB

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