ECHARTERS Message Board - Msg: 10847275

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Gold/Mining/Energy : ECHARTERS

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To: E. Charters who wrote (3168)	8/6/1999 5:56:00 AM
From: John Menzies	Read Replies (2) of 3744

I think you are fast approaching the status of Guru Eric and your Just in Time philosophy to eating lizards is just great. Living in caves - seems to be a relevant topic at the moment. There might be afew more people doing that when the dust settles on the internet bubble and the margin accounts - US$30 billion was added on margin finance in March and April this year - are called - or whatever they do to margin accounts- who would want to own one at the top of the bubble. I have a graphic image of a large candain out in the wilds (Eric) - knee deep in snow - hairy as hell - with half a lizard in one hand and a sheepish grin - do you have lizards up there? I read an interesting article by Armstrong of Princeton Economics fame today - saying that the gold price was going to US$129 if the gold price finishes below US$200 this year. Something to look forward to - then we could use it for hub caps - like the America Cup. But then I clelary remember a 30 page report dated 1989 by the same person stating the exact reverse that it would be thousands by the year 2000! How could analysts change their minds so quickly - I just do not understand. On more interesting matters the new nickel projects down under are getting a move on with commissioning well under way. Anglo taking a position in Anaconda must give some confidence to the market. Interesting though that WMC have been pretty vocal on the negatives of laterite nickel projects. If the laterite nickel projects work as they will but with somewhat higher operating costs - then someone probably WMC will have a badly placed egg problem. This of course impacts Voiseys Bay - how is that coming along - or is it bogged down in bribery and corruptions scandals, environmenal courts and native issues? Regards John Menzies cmi-capital.com

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