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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 (1323)	10/21/2000 6:07:59 AM
From: nickel61	Respond to of 1615

Speaking of misleading! What has "Cumbrian's" role been here the last year? "I am just a on the floor grunt," I wonder which floor of the management Cumbrian comes from?

To: Kitskid who wrote (1323)	10/22/2000 3:16:49 AM
From: Kitskid	Respond to of 1615

There may be lots of things that Inco did or did not do right in the Voisey's Bay Project but nothing compares to the moronic behavior of the Tobin government. The denial of a mining permit is a hostage taking of the investors capital after the province accepts payment for the mineral claims. Implicit in the registering of a mineral claim is the reasonable assumption that the claim holder will be allowed to extract the ore that they have found. This action has given Canadian mining a black-eye equal to the shame of Bre-x!!! When a puffed up politician has a whim that some other criteria has to be fulfilled in order to allow a mine, it throws the whole system of exploration and development into question. There is no politician in Canada who has done more damage to investment in the mining industry than Brian Tobin. With the appointment of Tobin to the Minister of Industry, one has to wonder what the mental processes are in the leadership circles of the Liberal Party. Are they really this hard up for votes? Will Tobin really help the Liberal Party? Can he help the Liberals outside of Newfoundland??? Tobin is the only one who has remotely gained anything from the Voisey's Bay imbroglio.This project is on the back burner until there is a change in political thinking in St.Johns. Canadian investors and taxpayers are the victims of a myopic political midget.

To: Kitskid who wrote (1323)	10/27/2000 12:22:32 AM
From: Kitskid	Read Replies (1) \| Respond to of 1615

Inco doesn't quantify the new warrant's value. Most lotto tickets are worthless and these warrants are away out of the money too. ------------<snip>------------------- northernminer.com - Inco to sweeten VBN buy-back 10/26/2000 With only 76% of the outstanding shares tendered (as of Oct. 16) to its offer to buy back all of its Voisey's Bay Nickel (VBN) shares, Inco (N-T) has decided to sweeten its bid. The company has scheduled a special meeting of its shareholders for Nov. 28 to vote on whether or not the terms of the VBN shares should be amended. The proposed amendments would allow the company to redeem each of the shares for $7.50 cash and 0.45 of an Inco common share warrant with an exercise price of $30 per warrant. The first bid offered $7.50 plus 0.45 of a purchase warrant exercisable at $36. The amendments require the approval of at least 66.33% of the votes. Holders of the class VBN shares will vote separately from the holders of all of the company's voting securities -- VBN shares, common shares and Series E preferred shares. Inco originally made the offer because it wanted to eliminate a "conflict of interest" between its common shareholders and holders of the VBN shares. The offer will be withdrawn if less than 90% of the 26 million outstanding shares are tendered. Just over a week ago, after Inco failed to acquire 90% of the outstanding shares, the company announced that it would extend the closing of the original offer until Oct. 27. Inco has already secured 37% of the outstanding shares via a lock-up agreement with Franco-Nevada Mining (FN-T), the largest single holder of VBN shares. The agreement allows Franco to tender to an offer that is valued at 10% higher than the Inco offer. It also allows Inco to make a counter-bid if a higher offer is made. The Voisey's Bay Nickel shares were created for Inco's takeover of Diamond Fields Resources, the company that discovered the Voisey's Bay nickel deposits. They were meant to provide a vehicle for Diamond Fields shareholders to retain a direct interest in the project (T.N.M. Sept. 11). The shares reached their highest point in 1999, trading at $43.75. However, during the past year they have fallen to between $6.15 and $14.50. They closed at $9 on Sept. 5, the day before the announcement. At presstime they were trading at $9.75. In late day trading on Oct. 26, Inco shares were at $22.70 on the Toronto Stock Exchange, down 35¢ from their previous close.