File 4 December 1972
J. K. Allen cc W. Bourret
E. C. DeMoss
Mexican Government Bonds currently held by Utah Construction
I have been corresponding with a U. S. lawyer regarding a copper pros-pect south of El Paso in Mexico. The Mexican owner of the property has indicated that should any foreign companies participate in explora-tion, development and (presumably) eventual exploitation of the deposit, that the coat of foreign participation might be made in the form of Mexican government bonds.
In light of the above, could you advise the status of any Mexican government bonds held by Utah. I understand that we were paid partially in bends for construction work performed several years ago. What type of bonds are they? are they in default? has interest baas paid? Any information you have would be helpful in assessing the prospect.
I should add that Utah's management has advised Wes and me that the company at this time has no interest in Mexico. Our interest may change with further study. Information on our bonds will help in evaluating the mining industry in Mexico.
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