It's not a metal-related trust, but Arctic Glacier (AG-UN.TO) is yielding 13.3%, and the SP has been beat down from the $11-$12 per share range to the low $8 range because the US Dept of Justice is investigating price-fixing among packaged ice manufacturers in Texas, which is just one of many of AG's markets, which are in both the US and Canada. IMO, this is more of a panic reaction to some unproven allegations. I think there is about 30-40% upside from this point, plus the distributions.
Also, Arctic Glacier realizes 80% of its revenue from the US, so it is mostly shielded from the impact of the Halloween massacre on Canadian trusts.
Another trust that is mining-related is met-coal producer Fording (FDG or FDG-UN.TO). They just released their contract numbers for the 2008 coal year (4/08-3/09), and avg prices have gone from $95 per tonne to $275 per tonne. They should CASH FLOW $16-$17 per share for the above period - trading at about $71/shr today. The quarterly distributions should reach the $3 to $4 range. Also, the share price should reach the $80 to $90 range at a minimum, or more, depending on whether the market prices it more as a trust or a momentum stock.
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