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Gold/Mining/Energy : Nuinsco Resources (NWI)
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To: Doug Macklem who wrote ()3/18/1999 8:00:00 AM
From: Buckey  Read Replies (2) of 5821
 
Nuinsco Resources Limited -

NP says Nuinsco drill results disappoint

Nuinsco Resources Limited NWIShares issued 40,440,366
1999-03-17 close $2.49
Thursday Mar 18 1999
The National Post reports in its Thursday, March 18, edition that Nuinsco Resources results from two drill holes in Northern Quebec confirmed earlier evidence of a nickel discovery, but provided little information on the size of the orebody. The National Post's Keith Damsell writes that Nuinsco shares slipped 34 cents to close at $2.49 yesterday. On Tuesday, Nuinsco hit a 52-week high of $3.47 in anticipation of results from the La Rocher property. In December, shares were trading as low as 22 cents. Deutsche Bank Securities analyst George Albino says Nuinsco's latest results are marginally negative news. He says the market is moderately disappointed, but it's not gross disappointment. The letdown may stem from where Nuinsco's geologists chose to drill. One hole from last season was deepened, finding encouraging grades of 6.36 per cent nickel and 0.46 per cent copper. The second hole was drilled near January's discovery hole, tapping into grades up to 9.59 per cent nickel. To get a more accurate sense of the find, Nuinsco must drill to the south of its discovery holes.
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