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Gold/Mining/Energy : Canmine resources
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To: Marshhawk who wrote (1774)8/24/1999 7:19:00 PM
From: Marshhawk  Read Replies (1) of 2769
 
Ralph, couple of interesting Ni tidbits today. US Mint just bought 210 T at 6765 or $3.07 a lb. Ni in London was unchanged in the am and up 4.5c in the pm. Usually doesn't move that much intraday.

Roskill Information Services, the UK based outfit best known for forecasting Cobalt prices staying at $10 until either the millenium or the second coming of Christ, has just published a paper saying tat due to the laterites, Ni prices may stabilize at lower levels. Roskill makes two startling announcements.

1) Russia produced 214 kt last year
2) 123 kt of new production is expected to come on stream between 1999 and 2001.

I guess the guys at the LME and the US Mint didn't have time to read the Roskill report before they filed their buy orders.
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