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Gold/Mining/Energy : Fortune Minerals Limited (TSE - FT)

FT 7.950

+0.1%

Jan 8 4:00 PM EST

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To: Dave R. Webb who wrote (551)	3/29/2001 6:11:00 PM
From: coass	Read Replies (1) of 612

Dave: Heard the news re. Australian nickel cobalt laterites. Centaur, the owner of Cawse is in receivership, Preston, who own Bulong have been unable to reach capacity and the stock has been suspended, and rumours of financial difficulties plague Anaconda owner of Murin Murin. They have only been able to attain 65% capacity and the largest shareholder Anglo has called for a shareholder meeting to remove senior management. Costs per pound nickel are 400% higher than initially forecast. These are the projects that were supposed to drive the price of cobalt lower. This looks good for the price of cobalt being sustained or moving upwards. Check out the recent posts on the Canmine thread.

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