Opinions
James Leung
Great Lakes Carbon Income Fund
GLC.UN-T
BUY
Jun 30, 2006
World's largest producer of calcined petroleum coke. Managed to earn a comfortable margin in 2005. In 2006, the volumes are off a little bit but they also have very strong commodity prices. Have a currency hedge in place for a couple of more years.
$9.600
Stock price when the opinion was issued
investment companies
funds
It's the ideal tool to help you make quicker, more informed decisions for
managing and tracking your investments.
You might be interested:
BUY ON WEAKNESS
Produce calcined coke for the aluminum business. Had a little spike at the beginning of the year. Last year they struggled a bit with freight costs and they seem to be getting those under control. They're going to be passing on some price increases. Sees 2005/2006 to be better years with about 95% payout ratio.
investment companies
funds
BUY
Went through a rough patch in 2004 because of the high freight rates giving a margin squeeze. Had to dip into their subordination. Have quite an attractive subordination with AIP. Have been able to negotiate very strong sales price realization through most of their major customers. Demand/supply looks very strong.
investment companies
funds