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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (44436)	11/26/2007 8:54:32 AM
From: TheSlowLane	Respond to of 60918

I am truly sorry to hear that. Hopefully the rest of your PF will help to offset the NG impact. To my mind, this is significant news. The cyclical bears have long been warning us that supply-side responses to high metal prices will crater them, but this is a perfect example of how the supply-side is being constrained. I am sure that NG/Teck are not the only ones that are experiencing these kinds of escalating project costs.

To: orkrious who wrote (44436)	11/26/2007 10:24:11 AM
From: Wade	Respond to of 60918

I finally found something to reduce my capital gains this year. :((

To: orkrious who wrote (44436)	11/26/2007 12:56:47 PM
From: TH	Read Replies (1) \| Respond to of 60918

Ork, OUCH! I just opened a nice starter position in NG. I'll double it, and double it again as the week progresses. POG should be up a lot more, esp with Citi talking about 100bp cuts. Citi knows stuff and they have a batphone direct to Blackhawk. GT TH

To: orkrious who wrote (44436)	11/26/2007 4:24:46 PM
From: blind-geezer	Respond to of 60918

dude, are you okay, NG is down 50% today ...

To: orkrious who wrote (44436)	11/26/2007 7:48:58 PM
From: Land Shark	Read Replies (2) \| Respond to of 60918

Margin sucks. I guess a lot of positions will be liquidated to cover margin calls in NG. Could cause some further downside in the TSX/VSX.

To: orkrious who wrote (44436)	11/27/2007 10:01:26 AM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 60918

NG - Looks like there was a pretty good warning burried in TCK's earnings over 1.5 months earlier... Project execution strategy is under review for the Galore Creek deposit and an independent engineering firm has been engaged to prepare an updated feasibility study. Indications are that the project's capital cost will exceed the previous estimate in the October 2006 feasibility study by a very significant amount. The expected cost increases are resulting from, among other things, the inclusion of additional power line costs in connection with a higher-capacity power line for the project, escalating local and worldwide construction costs, further optimization of the project, including potential modifications to grind size, and the significant strengthening of the Canadian dollar against the US dollar. Capital cost increases are expected to be partially offset by improvements in operating costs. The updated feasibility study is targeted to be complete in the first half of 2008. biz.yahoo.com The question is why didn't NG feel this was material enough to issue a warning prior to this fiasco??? I do fault myself somewhat for not paying closer attention to TCK's earnings, but still. In talking w/IR they thought they might have a problem as early as the early part of 2007, but the numbers were so outrageous that they thought there must be a mistake. They hired 7 independent contractators to confirm and when enough got back to them they issued yesterday's PR. Either way it was a gross miss and my confidence in present management is shattered.