A Comment -- General Comments From an Expert (A Commentary)

Trading around 13/14 X next year's earnings. Nice growth in production.

China is interested in the company which could breath some life into it.

In the Canadian mining big companies, they always had great assets and always poorly managed. Would rather have money in something like Teck Cominco.

(A Top Pick June 30/04. Down 16%.) The entire auto parts sector is down because of steel prices, the strong Cdn$ and slowing auto sales concerns. At a very good price.

Has done a fabulous job over a long period of time. Valuation looks pretty reasonable. Has substantial US manufacturers, so not at risk as owing all Canadian.

Not sure why it took such a jump, but may take a few profits. Very good, lean group. good properties.

Could get sold at a lower price, or government could step in to prevent a sale, etc. Anythings possible.

Have other preferences.

Has paid a higher yield than many of its peers. Has a sector "underperform" recommendation on it. Trading at about 188% of its NAV.

One of the highest quality trusts on the board. Strong stability rating.Has paid a higher yield than many of its peers. Has a sector "outperform" recommendation on it. At its target price, but likes the stability of its distribution. 7 1/2% yield.

The fact that the market is dropping indicates it doesn't think the rumoured acquisition by a Chinese company is a good one. Wait for some clarity on the stock.

Have had some problems in the 2nd/3rd quarters, weather related delays and some troubles meeting their production schedules. Prefers others.

Whne a conversion to a trust is announced, it is better to hang around for awhile as there are usually a whole new bunch of buyers getting in. After the split, both pieces should do OK.

Shares are staying stable.