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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Claude Cormier who wrote (22524)	10/21/2003 5:31:11 PM
From: Elizabeth Andrews	Read Replies (3) of 39344

I'm sure that Inco regrets paying the $4.6 billion for the deposit but what is the exit path for Ivanhoe? If it were acquired at its current market cap plus the capex plus the infrastructures required the final number to amortize could be even higher than VB. Also, what happens to the mentality of the Republic of Mongolia when they figure out that this deposit could provide the salvation of the country’s current account balance, jobs etc and they make a move to burden it as did the Newfies. If it is so valuable, and the jury is out on that in my view, maybe it becomes a financial albatross, as did VB to Inco?

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