September 22, 1971 Record Mexico
Mr. Fred M. G. Sullivan Administrative Manager Placer Mexicana, S.A. DE C.V. Niza 12-312 Mexico 6, D.F.
Dear Fred:
After reviewing the various reports and material related to doing business in Mexico, I find that there is one significant gap in our data. This has to do with operating statistics and financial return of a few key mining companies in Mexico.
Under the Mexicanization laws, I would assume that most mining companies publish annual reports setting out results of operations and financial data, pretty much the same as Canadian or US companies would do. In an effort to review the finan-cial performance of companies like Fresnillo, S.F. Mines of Mexico, Asarco de Cobre, Industrias and Pan American Sulphur, can you give me the name of a Mexican financial service like Standard & Poor's, or Financial Post that publish such information. Or if such a service is not readily available, can you suggest a bank or brokerage house that might provide this type of information on mining securities. With this information, I would then attempt to prepare a table showing earnings, dividends, return on investment, price earnings ratio, growth, etc. by individual companies.
I hope that you can put me in touch with such an organization without going to a lot of trouble. In the meantime, many thanks for your advice and help in this matter.
Yours sincerely,
Weston Bourret Vice President
WB:f
