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Show January 14, 1972 Mr. F. M. 6. Sullivan Placer Mexicana, S. A. De C. V. Niza 12-312 Mexico 6, D. F. Dear Freds First off, I would like to thank you again for your last letter on Mexican companies which includes tables on Return On Investment, Price Earnings Ratio, Share Earnings, etc. This information has proved most enlightening. However, I am still at a loss to understand the unusually low price earnings ratio compared to most mining companies; also, the rather sharp fall in this ratio for Penoles over the past five years, i.e., from 11.1 to 5.5 for 1970. Enclosed herewith is Utah International's Annual Report just off the press. We are rather proud of this report and I believe you will enjoy reading it. True to my promise, I am airmailing to you under separate cover the "Filer's Mineral Catalog". Page 62 lists some pretty good buys for mineral collections. For example, you can purchase 30 specimens of commercial minerals for $16.50; or 65 specimens of various minerals for only $39.50. In any event, my friends tell me that this is a good and reliable outfit to purchase minerals from. You will note the attached reply to my query on slides. Filer's does not presently stock slides. We are now receiving on a regular basis a monthly publication "Informacion Sobre Valores" published by Banamex. I have found this very helpful because of the share and dividend Information given for Asarco, Penoles B, Minera Frisco, etc. Now that Cananea is Mexicanized, perhaps shares of this company will be included in later reports. As per your memo, Fresnillo is not listed on the Mexican Stock Exchange. Does this mean a company is not yet Mexicanized? Or is Fresnillo in the process of becoming listed? I hope you came through your examinations easily and some of the pressure has let up. With kindest personal regards and wishes for success in the New Year. Yours sincerely, Weston Bourret WB/nam Vice President Enclosures x 2 P.S. In line with your suggestion, we are writing to the Departamento de Promocion Bursatil for their monthly bulletin. - 2 - Mr. W. Bourret October 14, 1971 fluent English. He could also put you in touch with other good sources of information. Another good lead for sources of financial information in Mexico is the Departamento de Promocion Bursatil of the Banco de Comer-cio, S. A., Venustiano Carranza No. 44; Mexico 1, D. F. You may contact Messrs. Emilio Tuero Tamayo, Mr. Manuel Tapia 0., and Lic. Rigoberto Oseguera, all of whom, are good friends of Placer and very knowledgeable on the Mexican stock market and the mining industry in general. These gentlemen speak English and would be pleased to provide any additional information required. If there is any other information or assistance we might provide you from Placer Mexicana, please do not hesitate to contact us. With best regards to you and Hugh Douglas. Yours sincerely, PLACER MEXICANA, S. A. DE C. V. F. M. G. Sullivan FMGS/ebh c.c.: E. A. Scholz S. J. Melihercsik W. J. Casburn NIZA 12-312 MEXICO 6. D. F. January 14, 1972 Mr. F. M. 6. Sullivan Placer Mexicana, S. A. De C. V. Niza 12-312 Mexico 6, D. F. Dear Freds First off, I would like to thank you again for your last letter on Mexican companies which includes tables on Return On Investment, Price Earnings Ratio, Share Earnings, etc. This information has proved most enlightening. However, I am still at a loss to understand the unusually low price earnings ratio compared to most mining companies; also, the rather sharp fall in this ratio for Penoles over the past five years, i.e., from 11.1 to 5.5 for 1970. Enclosed herewith is Utah International's Annual Report just off the press. We are rather proud of this report and I believe you will enjoy reading it. True to my promise, I am airmailing to you under separate cover the "Filer's Mineral Catalog". Page 62 lists some pretty good buys for mineral collections. For example, you can purchase 30 specimens of commercial minerals for $16.50; or 65 specimens of various minerals for only $39.50. In any event, my friends tell me that this is a good and reliable outfit to purchase minerals from. You will note the attached reply to my query on slides. Filer's does not presently stock slides. We are now receiving on a regular basis a monthly publication "Informacion Sobre Valores" published by Banamex. I have found this very helpful because of the share and dividend Information given for Asarco, Penoles B, Minera Frisco, etc. Now that Cananea is Mexicanized, perhaps shares of this company will be included in later reports. As per your memo, Fresnillo is not listed on the Mexican Stock Exchange. Does this mean a company is not yet Mexicanized? Or is Fresnillo in the process of becoming listed? I hope you came through your examinations easily and some of the pressure has let up. With kindest personal regards and wishes for success in the New Year. Yours sincerely, Weston Bourret WB/nam Vice President Enclosures x 2 P.S. In line with your suggestion, we are writing to the Departamento de Promocion Bursatil for their monthly bulletin. |
