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Gold/Mining/Energy : Fortune Minerals Limited (TSE - FT)
FT 8.110-0.1%Feb 4 4:00 PM EST
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To: Tim Cruise who started this subject11/17/2000 12:34:34 AM
From: Dave R. Webb  Read Replies (1) of 612
 
Wow, have we gotten active here.

I haven't had time to read all the postings, but the last few here relate to bismuth and cobalt markets.

Elizabeth is right, the bismuth market is puney. It's lucrative, but small. Most bismuth is byproduct from lead and some silver mines, but growth, although increasing 3% last year is projected to be flat. Prospects for future growth look good, and many producers are cutting back on bismuth output.

The value at Nico is in its cobalt and gold. Cobalt markets have been in a deficiency with demand outstripping supply for the past few years. Sales from the USDL stockpile have amounted to almost 10% of the world's supply. Growth in consumption looks good, at 3 to 5% per year. PAL production is threatened, but hasn't reliably come on stream yet. Congo-based supplies are not reliable, and cause nervousness in the market.

All referenced from the USGS 1999 annual reports.
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