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Gold/Mining/Energy : Breakwater Resources (T.BWR)
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To: Larry Rutherford who wrote (504)8/1/1998 11:41:00 PM
From: jack marshall  Read Replies (1) of 962
 
Writedowns are usually year end affairs. Misery loves company. Sneak this one by everyone when Inco has all the headlines.

Lets face it. The money is spent. The rest is just accounting.

Nanisivik and Bougrine are still two decent assets, worth the current capitalization alone although the reserve situation at the former is becoming a concern.

Problem is, individual fundamentals don't mean too much in this climate. The copper and nickel markets have had a way of dragging down or lifting up the other metals and that's in full swing now.

I'm afraid only the consumer(and not the speculator) is going to drive the zinc price higher in this climate and he can read the LME levels like the rest of us. I'm parked until I can sort this mess out. Still a long term zinc bull, just not sure whether this is the right vehicle or not.

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