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Gold/Mining/Energy : Inco-Voisey Bay Nickel [ T.N.V] -- Ignore unavailable to you. Want to Upgrade?

To: buylowsellhigh who wrote (729)	7/14/1999 11:41:00 PM
From: Mitchell	Read Replies (1) \| Respond to of 1615

Is it not a little late in the summer to commence exploration, Inco had the spring as well. Is the political climate warmer now? Wednesday July 14, 8:03 am Eastern Time Company Press Release SOURCE: Inco Limited Inco Limited Announces New Exploration Program for its Voisey's Bay Property TORONTO, July 14 /CNW-PRN/ - Inco Limited announced today it will begin a new round of exploration later this summer on its Voisey's Bay property as a first step toward an underground exploration program. This new exploration will focus on the main block area held by Voisey's Bay Nickel Company Limited (VBN), its wholly-owned subsidiary, where the 'Ovoid' deposit is located as well as other claim blocks held by VBN. Beginning in early September, delineation drilling of the Eastern Deeps zone of the Voisey's Bay deposit will be undertaken from surface in preparation for its eventual underground exploration. Some exploration drilling and geophysical work will also continue on other high priority targets including: the Sarah prospect, some six kilometres north of the 'Ovoid', where current drilling is testing extensions to narrow intersections of high grade nickel sulphides; the 'Kiglapaits' property, 60 kilometres north of the main claim block area; and 'Red Dog', a large area two kilometres south of the Ovoid. This new exploration program involves 10,000 metres of drilling at a cost of Cdn.$3.6 million. It will employ 73 people including 23 Inco and Voisey's Bay Nickel employees as well as 50 others from contract drilling and support services firms. The program follows the completion of Inco's exploration spending commitment under the terms of the April, 1996 agreement covering its acquisition of Diamond Field Resources, Inc. and the Voisey's Bay deposit and other claim blocks in Labrador. Inco will have spent more than Cdn. $80 million in exploration expenses in Labrador by the end of August, 1999. Inco expects to release an updated estimate of the total resources at Voisey's Bay later this month. This news release contains forward-looking statements regarding the Voisey's Bay project. Actual results may differ materially from those contemplated by these statements depending on, among others, such key factors as the timing of receipt of necessary federal and provincial environmental and other approvals, settlement of aboriginal land claims and exploration activities and results. SOURCE: Inco Limited

To: buylowsellhigh who wrote (729)	8/20/1999 9:29:00 AM
From: Mitchell	Read Replies (1) \| Respond to of 1615

This is worth a smile from Tobin 8/20/99 By PAT DOYLE The Telegram The Fraser Institute, a Vancouver-based independent public policy organization, is so right wing ?it makes Preston Manning look like a pinko,? Premier Brian Tobin said Thursday. Tobin was incensed with a survey report on investment climates in Canada issued by the institute earlier this week. According to the survey report, Canadian investment managers ranked Ontario and Alberta as the top two provinces in terms of investment climates. Based on a score of 1 to 10, the survey report said Ontario topped the rankings with a score of 7.9 followed by Alberta?s with a score of 7.8. The report said Newfoundland scored 4.5, moving it from last place in 1998 to second last this year, ahead of British Columbia?s 3.1 The institute said B.C. received the largest negative response of any province with 70 per cent of respondents stating the province lacked the necessary economic policies required to develop world-class companies over the next decade. ?The next ?worst? province in terms of lacking the necessary economic policies to promote globally competitive companies was Newfoundland, which garnered a negative score of 39 per cent.? Speaking at a news conference on another matter, Tobin said Corner Brook native Michael Walker, who is head of the institute, had stated Newfoundland?s inflexibility ? particularly with its stand on Voisey?s Bay ? has deterred investment. ?I?m simply saying that, first of all, this analysis is absolutely wrong.. ?Newfoundland is having a phenomenal economic year and will lead the country this year with a 29 per cent capital spending growth compared to a national rate of 6.8 per cent.? Capital spending is expected to exceed $3.5 billion, an increase of nearly $800 million over 1998, he said. Therefore, the information in the survey on this province is completely inaccurate, the premier said. ?This (institute) is the most right-wing organization in Canada,? he said. ?This organization is right of Atilla the Hun.? Tobin also noted that Walker has said in the past that the solution for Newfoundland is to depopulate the province. ?Newfoundland and Labrador?s stance on Voisey?s Bay has in no way deterred investment in this province,? he said. ?If anything, it has clarified the province?s position on mining projects, and we continue to see new investments made. ?We have taken the position on Voisey?s Bay with the support of the people of this province in order to make sure that they receive full and fair benefits from the project.? The province has a strong investment climate which offers many advantages and there are many factors to support that claim, Tobin said. He said people are still conducting mining exploration and are still investing in mining projects. ?To have a right wing think tank telling me and telling the people of Newfoundland that we?re not doing well because we actually said no to Inco when they proposed building a mine and mill only, to me that?s a badge of honor.? Tobin also said Newfoundland has one of the most competitive corporate tax regimes in the country, which makes for an excellent investment climate. ?We also experienced 4.4 per cent gross domestic product (GDP) growth in 1998,? he said. ?Major banks and financial institutions across the country, such as the Bank of Montreal and the Conference Board of Canada, have projected that this year we will once again lead all of Canada in growth at 5.5 per cent and five per cent, respectively. ?That does not happen without sound and solid investments,? he said. ?We have clear signs that we are on a very positive economic track,? Tobin said. He noted that last month?s labour force numbers from Statistics Canada show steady growth in the province?s labour market with an increase of 16,100 jobs over the same time last year. ?This is the strongest growth of any province,? Tobin said. ?Our investment strategies are working and Newfoundland and Labrador remains an excellent place in which to do business.?