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Gold/Mining/Energy : Canmine resources
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To: Marshhawk who wrote (1780)8/26/1999 8:48:00 AM
From: Ralph Kern  Read Replies (1) of 2769
 
You may be right about INCO lurkers. When Canmine brings the mineral inventories to production it really won't matter. INCO's best interests would be for Canmine to prove up the extension to Thompson. First they could use the ore/nickel for their smelters in Manitoba. They also have staked land in the area. I am sure they would like to keep the competition out of their own backyard. INCO may be too wrapped up with Voisey Bay, GORO and doing upgrades to have funds available for BINCO anyways. There are bigger fish in the stream, Billiton, Anglo, and Noranda etc. who would be very interested in a large high grade near surface nickel sulphide deposit. Even INCO's 50 million investment in GORO would seem like a drop in the bucket. The stakes are very high. Does anyone know of a junior mining company in a better position than Canmine? Please send details if you know of one. Nickel is now over 3$/lb. There is no reason to think that it will slip down in the next 2 years. Cobalt prices up this week with the advent of Chinese and Japanese buying. September is usually a swing month for cobalt. Thanks for posting the US mint nickel purchases. They use a lot of nickel. They have experienced buyers. If they bid above current prices you can bet a nickel that that is where nickel is going. Thanks for your great posts. Dave and Rick thanks for the info on laterites.
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