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Gold/Mining/Energy : Thermal Control Technologies Corp TCT (was Redux Energy)
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To: mike wood who wrote (145)9/19/1997 1:23:00 AM
From: Randyfb   of 1208
 
Hi Mike. I didn't mean to understate the importance of yesterdays press release. The completion of the CAC testing by Detroit Deisel is good news. It was pointed out at the meeting that Detroit Deisel has 90% of the bus engine market. Also many older buses are being re-powered these days with turbo-charged engines. If Redux can get a toehold on this market it could lead to major sales in a new market segment. The convertible debentures were discussed briefly. They anticipate that they would not be convertible into common shares until two years after issue. Depending on the other terms, they might be an interesting investment. I purchased some convertible debentures in a company called Counsel Corp (TSE-CXS) last January. I get my 5% yield and the convertible feature has made the debenture price follow the stock price upward (while still offering downside protection because of the yield). My cost was $107 Cdn and they recently traded near $120.
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