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BUY
A darling of the Americans. The oil sands have a long life reserve. A core holding.
integrated oils
BUY
Last quarter was a turnaround. The yield is high. The company will not have the choice but what had to start restructuring to produce more earnings. Expect that part of their business will be transformed into a trust.
telephone utilities
BUY
One of his favourite integrateds. One of the cheapest integrateds on the market. Expect to see production start growing rapidly in 2007.
integrated oils
TOP PICK
Has a bit over $8 per share. Trading around 11 X earnings. Will lose a big client this year which is why the stock has dropped. Have grown very earnings 30/50% per year over the last couple of years.
computer software / processing
BUY
Have been looking at this company. The stock has not followed nickel prices, probably since they just started their production. Starting to look nicely valued. Could be 20/30% upside easily.
metal mines
BUY
Trading around 10 X earnings. Likes this one very much. Even if zinc prices drop 15%, it was still produce a lot of cash flow.
precious metals
TOP PICK
Has been growing nicely in terms of earnings. Trading at about 6.6 to EBITDA. Can see it reaching 10 X buy producing more earnings or converting into a trust.
investment companies / funds