Ralph, I got locked out of the beta version of SI, took me a while to find the back door.
Lots of news, all of it good for us.
#1 I made money yesterday on a portion of my CMR portfolio. I have been waiting 3 years to make that statement.
#2 Australia: Reuters: commods.reuters.com
Australia Ni-Triplets battle production slips. MM will produce only a fraction of the 22kt it was slated to produce in 1999. Twiggy declined to comment on a recent report which quoted a company official as saying the plant was running at 25% of capacity...Australian analysts believe only Preston is performing up to high hopes.
Analyst Keith Goode of Bell Securities said the official inquiry into the gas leak will delay the MM ramp-up. Sept. qtr results were likely to be much closer to 1 kt, Goode said...Ken Hellsten, general mgr. of Cawse, declined to be interviewed....Cawse was still having a lot of trouble with its autoclaves, Goode said.
Preston at this stage looks like it's winning the race in terms of processing and quality. But then they've got to get the tonnage up too, Goode said.
#2 Anglo: James Campbell, CEO of Anglo on the relationship with Anaconda shareholders (read Glencore, Sherrit):
"I don't believe there is any disagreement. The final test will be when the shareholders meet and vote the 2nd tranche. The vote will be on or around the end of Sept."
On the price paid by Anglo:
A lot of people say its a bit high. We stood back [good thing to do when they are gassing people with H2S] and looked at what we were trying to do, and looked at the growth opportunity on the success of the technology [huh?] and I think on balance the price is reasonable.
On the problems with MM:
Everything is my mind required to be identified has been done so. A 100-day program has been instigated and we're 1/2 way through that. There are technical people on the ground reviewing that and I don't have any concern to say that the program is slipping. [To be fair to Mr. Campbell, the article doesn't state the date of the interview, and hopefully he was not aware of the gas leak when he made the comment.]
#3 What once was lost has now been found. Ralph, you'll have to fill in the blanks for me here. My understanding is that the Mel property was claimed by INCO in 1961. The Mel property is adjacent to BINCO, on the NE side. INCO apparently had their heads up their butts for 38 years, and overpaid for a moose pasture in the People's Republik of Newfoundland, while they were sitting on an extension of the Thompson Ni belt, which they thought went the other way into the Fox River Sill. Inco shareholders should thank Bill and Ted for pointing out to them an underutilized property.
#4 Where are the CMR bears? Have they all made so much money in the last 3 years that they are vacationing in cabin country without their lap tops?
I have some questions for the bears, if any of them have the guts to stand by their positions:
1) Will anyone in Toronto notice that Nuinsco just optioned property next to CMR/Binco
2) Does anyone follow the list of new 52 week highs/lows that is published in places like the G&M? Will CMR being at a new 52 week high perk interest?
3) And to the rocket scientist who sold 20k shares 3 weeks ago in an attempt to drive the price down from 60 to 55: How does it feel? Were you able to cover in the 60's and limit your losses? Or are you holding on, waiting for a technical rebound?
Come on bears, I didn't hesitate to state my position 9 months ago, with CMR at 35 and Ni at 1.75. We want to hear the courage of your convictions. Or have your friends stopped feeding you false info? |
