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Gold/Mining/Energy : Canmine resources

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To: Marshhawk who wrote (1731)	8/19/1999 10:05:00 PM
From: Ralph Kern	Read Replies (1) of 2769

A few points. Mr. Peredery helped INCO discover several of the nickel deposits at Thompson. If you recall the story, INCO was led to believe that a nickel bearing structure might be present at Thompson after an airborne magnetic survey was completed. Then a very expensive and ambitious drilling program took place which led to the discovery of the nickel belt. It took several years to prove it up. Canmine can use more modern techniques such as TEM to shorten the timeline and decrease the cost of finding a deposit. The history of Thompson is on the INCO web site. Second, we are talking deposits that make Voisey bay seem small in comparison. They are 100-300 million ton deposits. 25% of Canadian nickel comes from Manitoba! We may be talking about another huge nickel find. A lot of work was done last year. Canmine is a year smarter and with any luck should be able to find a discovery hole. Third, cobalt is increasing in price due to Japanese buying. See the Metal Bulletin article from this week for details. The start up of cobalt production in the next few months will not go unnoticed by the investing public. Finally, CMR is holding well at 0.78. It wouldn't take much to move up over 1$. I think we have seen the bottom.

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