Timminco Ltd. (TIM.TO)

Produces raw material that goes into solar panels. Has had a spike and this is not the best entry point. Long-term, the fundamentals look quite good. Going through a plant expansion right now, which always creates an element of risk.

Their largest shareholder, Advanced Metal Group, is going public in the US, which gives them a huge market. 50% per annum solar growth is sustainable for the next 3 to 5 years.

Has been dropping. Do not average down. All the studies show that you do much better when you average up.

Solar energy will grow 50% per annum for at least the next 5 years. Good portion of this company’s growth is from polyfilicon, main ingredient in solar cells. Currently 30,000 tn. of annual consumption is expected to grow to 100,000 by 2010. Expected cash flow next year is $.41 and he expects it will be $.79 by 2009. Very cheap.

Has gone up too high for him.

Have 3 divisions. One is the production of silicon, the raw material for solar cells. They’ll earn $.40 next year and potentially $.80 in 09.