September 16, 1971
Mr. Stephen G. Kent, Jr. Director De Credito First National City Bank RCA Bldg. - 3rd Street 382 Reforma Mexico City, Mexico
Dear Mr. Kent:
Now that we are back in San Francisco I would like to thank you again for receiving Hugh Douglas and I so courteously last week and helping to steer us in the right direction regarding mining investments in Mexico. Thanks to you and Ing. Ramirez we have been provided with a lot of study material for evaluation.
Following our visit with you we learned that Asarco Mexicano will likely be opening a major copper mine at la Caridad, near Nacozari in Sonora in the near future. Reportedly this investment is of the magnitude of $350,000,000, including mine, smelter, concentrator and refinery. With Mexican nationals holding 51% interest in Asarco Mexicana we are naturally a bit curiuos about the mechanics of financing 51% of capital cost for the majority group. Knowing you are familiar with this situation would apprec-iate your letting me know when the underwriters prospectus appears so I will be informed as to how this financing is arranged.
I believe that we have returned from Mexico City with sufficient back-ground material on which to start our research.. Also we have the benefit of a pretty good library at the Stanford Business School for additional references. However, as gaps in our information appear, as they doubtless will, would like the priviledge of calling on you for assistance at some later time.
Both Hugh Douglas and I enjoyed meeting you and once again many thanks for the courtesies extended.
Yours sincerely,
Weston Bourret Vice President
WB:co
