Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (69871)	7/11/2008 6:44:49 AM
From: Snowshoe	Read Replies (2) of 74559

Hi TJ, I just bought the dip for a little stake in that pie-in-they-sky Baffinland iron mine you mentioned here last fall... Message 24035265 Not sure if it's time to buy yet... many of these junior mining stocks are being clobbered by high energy/material expenses plus the ongoing credit crunch. But I wanted to put some excess cash to work. My little poke of Northern Dynasty has suffered like Baffinland, but I'm holding on. The company has hired some extremely senior, experienced, well-connected Alaska executive talent to get this thing thru the permitting process and into production, and I think they've got a 75% chance of getting the go-ahead. The Alaska Supreme Court did just approve a ballot measure for this fall that could potentially stop the mine, but I think it will be defeated after a bitter fight. Ironically I'm against the Pebble mine myself for environmental reasons, but I think this is just too big a deal to pass up. Alaskans love the current gusher of petro-dollars flooding into the state treasury, but oil production is declining so another lucrative source of tax revenue and jobs will be very tempting. BTW, I noticed that Mitsubishi Corporation has a stake in both companies, so I put Mitsubishi on my watch list as another possible place to put some cash to work. Apparently they know stuff. Mitsubishi to Invest C$5.5 Million in Baffinland findarticles.com Mitsubishi Increases Stake in Northern Dynasty to 9.1% findarticles.com -Snow

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