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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (38217)	7/28/2006 9:26:27 AM
From: dara	Respond to of 39344

Yes, very helpful. Thank you.

To: orkrious who wrote (38217)	7/28/2006 9:30:46 AM
From: orkrious	Respond to of 39344

One addendum to what I just wrote. I generally like the stuff in the order of the size of the position in my PF, but I wouldn't necessarily invest new money in the same proportion. SA is a good example. Half of my position was bought in 2002 between 1.34 and 1.52. It's $12.68 today, so it makes up a bigger proportion than I originally invested. I wouldn't take an initial position as big as I have now.

To: orkrious who wrote (38217)	7/28/2006 9:59:35 AM
From: Salt'n'Peppa	Read Replies (1) \| Respond to of 39344

Will Inco, Phelps Dodge, Teck Cominco now look to Novagold? Will the Inco-Phelps Dodge union now turn their takeover eyes toward Novagold? It looks like Inco will get $450 million in windfall penalty payments - that should ease the pain of buying out Novagold! Also, will Teck Cominco now look to Novagold? (see relevant bolded sections below) Cheers, S&P _____________________________________________________________________ ca.news.finance.yahoo.cbc.ca Inco admits defeat, cancels Falconbridge takeover bid July 28, 2006, 5:50 am Inco Ltd. has bowed out of the bidding for Canadian rival Falconbridge Ltd. after failing to get enough investor support for its offer. Inco said its offer expired at midnight ET Thursday, meaning that Switzerland's Xstrata PLC will likely emerge the winner in the takeover fight for Falconbridge. "Though a large number of Falconbridge shareholders supported our offer, unfortunately it wasn't enough," Scott Hand, chairman and chief executive officer of Inco, said Friday morning. Inco had set a minimum condition that 50.01 per cent of Falconbridge shareholders had to accept its friendly offer by Thursday night's deadline. Xstrata, which has a bid of $63.25 per share in cash on the table for Falconbridge, said Thursday it would begin buying shares of its target on the open market. Xstrata said it will buy up to five per cent of Falconbridge's shares that way, bumping up its stake in the company to 25 per cent from its current holding of 20 per cent. Merger deal continues Inco, meanwhile, said it plans to continue with its deal to merge with U.S. mining company Phelps Dodge. The merger was originally planned to include Falconbridge in a three-way union worth $40 billion. "Based on the combined company's premier asset base, the outlook for sustained long-term high metals prices and strong cash flows, the two-way combination is a winning option for the shareholders of both companies," Hand said. "We also believe that it is clearly superior to the competing bid for Inco put forward by Teck Cominco," Hand added, referring to a hostile bid on the table from the Vancouver-based company. As a result of Inco not extending its offer and failing to acquire the necessary minimum tender from Falconbridge shareholders, Falconbridge has to make a $150-million US payment to Inco. If Xstrata's offer for Falconbridge is successful, a further $300 million US will be payable to Inco. In a news release, Xstrata chief executive officer Mick Davis said he welcomed the latest developments and encouraged Falconbridge shareholders to tender their holdings to his company's offer.