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

To: Kitskid who wrote (1222)	9/7/2000 7:00:27 PM
From: Cumbrian	Respond to of 1615

Here's a couple of articles from the Globe Globe says Inco makes offers for Voisey's stake Inco Ltd N Shares issued 181,702,011 Sep 6 close $26.70 Thu 7 Sept 2000 In the News The Globe and Mail reports in its Thursday, Sept. 7, edition that Inco made an offer Wednesday to buy out the investors who own a 25-per-cent stake in the stalled Voisey's Bay nickel project in Labrador for about $309-million in cash and warrants. The Globe's Allan Robinson writes that the offer is about 30 per cent of the estimated $1-billion value placed by Inco about four years ago on a special class of stock, known as VBN shares, that provide a direct play on the project. Inco's offer to buy the 26 million Class VBN shares caused them to rise $2.15 on Sept. 6, to $11.15 on the Toronto Stock Exchange. The VBN shares traded at a weighted average price of $8.06 during the past 30 days. The VBN shares have been depressed because Inco has been unable to strike a deal with Newfoundland Premier Brian Tobin to begin the development; formal talks were suspended early this year. The stumbling block, according to Inco, is that Mr. Tobin wants a guarantee that Inco will process the ore in the province "even if it were uneconomic." Globe says Inco's VBN offer good for Inco Inco Ltd N Shares issued 181,702,011 Sep 6 close $26.70 Thu 7 Sept 2000 In the News The Globe and Mail reports in its Thursday, Sept. 7, edition that the big winner in Inco's offer to reacquire its special VBN class shares is Inco itself. The Globe's Vox column reports that like a shrewd short-seller, Inco will spend $309-million in cash and warrants to buy back stock worth about $1-billion when issued to raise money for its Voisey's Bay nickel project. As for shareholders, some will prosper, others will not, depending on when they got in. Regardless, the time to get out may well be now. The warrants that sellers will get in the deal give them the right to buy Inco shares at $36 within the next six years. The last time Inco stock sustained prices higher than $36 was in 1997. Inco's Voisey's Bay and Goro projects are years away from producing, so they cannot be counted on to move the shares. The Globe says that the warrants have all the markings of dead money. With VBN shares closing at $11.15 Wednesday, the market is valuing the warrant portion at $3.65, compared with Inco's assigned value of $4.37. Given the alternative, getting out now on the open market and finding better prospects looks like a good move.

To: Kitskid who wrote (1222)	9/8/2000 2:29:46 PM
From: Kitskid	Respond to of 1615

N.V being gobbled up at $11.15, not rising on large volume.

To: Kitskid who wrote (1222)	10/7/2000 1:33:00 AM
From: Kitskid	Read Replies (1) \| Respond to of 1615

VB isn't going to be developed as long as Brine Toebrain is premier. <---snip---> anaconda.com.au 03 October 2000 QUARTERLY PRODUCTION RESULTS - Anaconda Nickel Limited reports that their operation at Murrin Murrin produced 1,709 tonnes of nickel and 132 tonnes of cobalt for the month of September. This is an increase of 49 percent for nickel and a 67 percent increase for cobalt compared to production achieved in August, and continues the normal ramp up and commissioning operations of Murrin Murrin in its first year since mechanical completion was achieved. Quarterly production totalled 4,118 tonnes of nickel and 304 tonnes of cobalt, a quarterly increase of 47 percent and 40 percent respectively