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Gold/Mining/Energy : ECHARTERS

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To: E. Charters who wrote (1952)	12/8/1997 12:34:00 AM
From: Big Shorty	Read Replies (1) of 3744

E. Charters - Facts Only Please!! re Inco personnel. Novawest does not have 4 Inco personnel. They have 3 personnel that have previously worked for Inco. None parachuted into NovaWest due to downsizing at Inco or anything elso affecting Inco as of late.. Dr. Peter Fischer hasn't worked as an Inco employee since 1976!! Gerry Gereghty hasn't worked as an Inco employee since 1989!! Frank Puskas hasn't worked as an Inco employee since 1993!! hardly parachutists due to to current events at Inco, in fact looking at the dates they left Inco there is no relevence what so ever. The fact is Inco bit off much more than it should of with VB. Inco paid $1.5 billion more than it should have for VB. Inco has sold off some 9 divisions over the past year and a half trying to cut fat and raise cash quickly. Inco has now closed 4 mines to cut fat and preserve cash. Inco is now laying off Sudbury employees in order to cut costs. Inco is about to begin high-grading the remaining ore at Sudbury for the near future to return the most profit for the least outlay with metal prices where they are. Point is Inco is in big trouble. Falconbridge is much leaner and perhaps better managed. Falco, this past week brought on stream their new Raglan Ni-Cu-PGE-Co operation that is producing ore at twice the grades of their Sudbury operation and at about half the cost per pound of their Sudbury and Inco's Sudbury operations. Not bad news for Falco, Not good news for Inco. Fact is VB will be on the back-burner for quite some time whether Inco owns it or Falco/ Noranda take them over. As for that little NovaWest outfit they have definetly got the people and properties up there at Raglan to put the whole thing together. The big question now to be pondered is, whether or not Falco with all it has planned for the Raglan etc. can allow NovaWest to put a drill in all or any one their targets. If they hit, the Cape Smith Belt blows wide open and so much for Falco controlling the camp as they had in the past. Also if they hit Falco will have to make NovaWest an offer before it gets into a bidding situation like VB. You'd think Falco would smartly make an offer in the very near future for NVE's 137,000 acre Raglan property package as an insurance policy. Time will tell. I've heard that NVE is already looking to see who else is interested. Did you realize that the Thompson Belt and the Ragaln Belt are roughly the same length but the Thompson has undergone much more exploration and development. To date the Thompson has some 800 million tons and 32 mines. The Raglan has a rumored 50 million tons to date and perhaps 6 deposits. I'd say the Raglan has extraordinary possibilities. Is this why Falco has kept such a tight lip so long and now are betting their future in the nickel business on it ??? Food for thought. Jim Cox

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