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Gold/Mining/Energy : Canmine resources

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To: Rick Escher who wrote (1777)	8/25/1999 9:49:00 AM
From: Marshhawk	Read Replies (1) of 2769

Morning news update: Anaconda to re-open on Aug. 27th, when safety conditions agreed between Anaconda, gov't and unions are expected to be met. Anaconda shares fell 6c to 2.35 on the news. I will leave it to the laterite bulls to explain how a deadly gas leak that "won't affect production" closes a plant for a minimum of 11 days. It would probably be impolite to ask what effect a shutdown of 11 days has on a continuous feed operation (e.g. once they restart production, how many days does it take to get autoclaves up to operating temp and pressure) and what the interest costs are to the operation (e.g. 600 mil US at 11.5% for 11 days = an additional 2.4 mil dollars US, or roughly 400 tonnes of Ni pdt needed just to pay the interest cost of the shutdown). Ni inventories up 700+ tonnes in London today, for the first time since early May. A Russian ship must have arrived in Rotterdam. Ni in London at 6750 this am, nearby, or $3.06 a lb. So another of Ted's predictions has panned out. I sure Ni breaking through resistance could not be related to the MM news. We all know the laterites are going to make Ni, and make it for way less than $2. See ya!

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