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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (5155)	12/11/2001 8:30:20 PM
From: Frank Pembleton	Respond to of 36161

Iso -- your take on Noranda? -- I bought Noranda to get a little income into my portfolio. I felt at the time the dividend was safe but now the stock price is being affected by the S&P credit rating downgrade. I believe they've been paying the dividend since 1928 -- so there is a probable reason to assume they'll continue to do so. They've certainly cut costs ... by closing down some marginal operations, big cut in their exploration budget, reduced capex because of their Peru copper mine is in production 4 months ahead of schedule and under budget and like a lot of other large energy consumers -- their operating costs are being reduced. Anyway -- knowing what I now know before I knew it < phew...> I'd hold off until the TA down trend is complete. FWIW; I really should check the charts before I buying, I might of dug deeper for the FA reason on the TA weakness. Regards Frank P. S&P Credit Rating standardandpoors.com Noranda's Q3 my.noranda.com