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Gold/Mining/Energy : inco
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To: Cumbrian who wrote (29)7/12/1998 10:27:00 PM
From: jack marshall   of 46
 
The turnaround here relies on two things....

1. Norilsk runs itself into the ground due to lack of capital replacements and inability to raise any money due to being cutoff by the government and non-transparent accounting. (The Zambia copper example).

2. The new laterites in Australia are technically and commercially unfeasible. If these deposits are that great why is QNI importing from New Caledonia instead?

The low price of nickel suits Inco just fine. What better way to get what you want in Newfoundland? It's a big waiting game right now.

If you take the long term look at it, things aren't so bad. You just got to know when to get in. My bet is about Q3 1999.

By the way, I too have been hearing some bad comments about the management in Sudbury.
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