Is Laurentian Bank worth holding at the current price as i have sold half and hoping for higher amount to 50s? What is your view on Ivanhoe Electric? Do you think the telecom space in Canada is behaving like the US with stocks not doing well other than the dividend? Thanks very much
With banks in Canada a very 'scarce' asset we would be OK holding LB to see what happens with a possible sale. As a Friedland company IE is heavily promoted, but it has $80M cash and potential. It has minimal current revenue and very highly negative cash flow, so needs to be considered VERY speculative. Certainly copper has good long term potential with EV growth, and management has had huge successes before. The Canadian telecom space is a bit more secure than in the US, as we have essentially an oligopolistic industry. Still, very little growth is expected, and we would temper expectations here.