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Strategies & Market Trends : Value Investing

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To: BGraham who wrote (4695)	8/19/1998 11:15:00 AM
From: Scott Mc	Read Replies (1) of 78625

Gordon, I can add a bit to what Paul said, Inco is the largest producer of nickle in the world, its gotten itself into a bind with their purchase of Voisey Bay(Newfoundland), a huge easy to mine(if you take politics out of the equation) site. With the collapse of nickle prices and the problems at Voisey they are in a real bind. Im in agreement with Paul about mining companies, most of them are holes in the ground to pour money into, at least with oil you get a steady(reasonalbly predictable cash flow), Ive looked at Inco in a very tentative way a couple of times, if I were to get in I would look much cloer at 2 convertibles, one an Inco debenture and pays (I would guess 10% without chking) and another from Teck Corp (another large mining compnay) converts which also convert into Inco. They might both be busted since Inco has dropped so much.. Scott

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