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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (20287)	3/14/2003 4:40:11 PM
From: kollmhn	Read Replies (1) \| Respond to of 206140

Cyclical- Agreed. The CC presentation regarding the Pemex receivables was bit more enlightening than the last one they made a couple weeks ago. There appears to be no doubt that they will get paid. The work was done, the project (EPC-64), grew 300% from its original scope and, importantly, HOFF could not say "no" to the countless changes that PEMX requested. The documentation that PEMEX requires is so that they can roll up everything into one new large "change order". Then payment in full should be made. Unfortunately, that payment won't be forthcoming for another 4-6 months. However, when it is made and if by then their market is showing signs of recovery (like they expect in the 2H03) then, this stock has a real possibility of seeing double digits again. Like everything in this market, patience is required.