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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: dara who wrote (14527)	5/26/2004 2:20:40 PM
From: russwinter	Read Replies (2) \| Respond to of 110194

Goro, another in the multiple Train Wreck story? This mine is vital, one of two large nickel mines on the drawing board over the next few years. Inco will also take a non-cash charge of $180-million to $210-million in connection with engineering, equipment and other costs that are no longer of value because of changes to Goro's design. The revised design calls for a smaller processing plant that will use less structural steel and concrete. As well, review team members found potential savings in areas such as redesigning a port so that it would require less dredging and eliminate offshore dumping of dredged material. Such savings amounted to about $500-million, but were partly offset by currency moves and increased costs for steel and copper, Mr. Hand said.

To: dara who wrote (14527)	5/27/2004 9:56:36 AM
From: russwinter	Respond to of 110194

Looks like price rationing for base metals is on. Cu has had a great surge from 1.15 area, and follow on today: Copper(CMX) Jul 124.90 127.95 124.90 127.40 +4.25 5/27/2004 6:34 And the answer to my question earlier this month of "when do they ration" appears to be 272,133 combined LME and Comex stocks combined (Wed. May 26). Draw-downs have still consistently run at 3000-4000 a day. Train Wreck looks alive and well, with the USD weakness and massive negative real rates no doubt encouraging the speculators to borrow and reload their long trades. Crack up boom on the horizon?