Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: David Culver who wrote (344)	5/23/2000 9:04:00 PM
From: Lorne Larson	Read Replies (2) \| Respond to of 11633

In their news release of May 19 announcing a hedge position, MXT stated that "excellent first quarter results are scheduled to be released May 23". I didn't see any news release today. One could speculate that maybe they're close to a bank deal, and have delayed the release so that they could announce it at the same time. On the other hand, maybe they just didn't get around to it. Interesting that the big buyer today was CIBC (25800 bought, 600 sold). I would venture a guess that the new bank deal just might involve CIBC. MXT has put on some pretty nice hedges for about 3/4 of their production for the rest of 2000, and for the 1st 6 months of 2001. Limits their upside a bit, but protects them on the downside below about $21. Nice move for a company that's had bank problems, and is looking for new financing. Can now demonstrate that they have a guaranteed cash-flow for the next 12 months. I really like the way management has handled themselves over the last difficult 2 years. Resisted the temptation to issue a whole bunch of new units at low prices. Hung in there for an increase in oil prices, and got a bit lucky. Good for them.