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

To: Jiong Sun who wrote (104)	11/23/1997 7:01:00 AM
From: Bob Fairchild	Respond to of 1615

One factor for the low price of nickel is that the Russians are flooding the market with scrap stainless steel which is being recycled. I wonder how long this will last? Seems like another byproduct of the Cold War dying out. As far as Asian economies slowing down, my believe is that when Inco has Voisey's Bay up and running that the Asian economy will be headed into a fresh bull market as recessions tend to last only a few years compared to bull markets in the business cycle. Where do you think the price of nickel will be then ? No matter where it sits, Voisey's Bay will turn a profit when production begins. Most people hold this stock as a long term investment but short term price fluctuations do affect the mental outlook for investors.

To: Jiong Sun who wrote (104)	11/23/1997 9:51:00 AM
From: don wang	Read Replies (1) \| Respond to of 1615

The book value of INCO is $33.00. Right now it trades at 0.76 of book value, 3.9 of cash flow and 0.65 of sales. To compare to Falconbridge (FL) which trades at 1.48 of book value, 7.2 of cash flow and 1.45 of sales. To compare to Alcan Aluminium which also suffers to market down side and it trades at 1.41 of book value, 7.43 of cash flow and 0.80 of sales. From above datum the price of share of INCO is much undervalued. If it trade at the same book value of FL and it should be $37.00 without considering the Voisey Bay potential factor. Those do not need rocket knowledge and all the money managers know it. But they are willing to see the depressed price and accumulate the share at this low price for the future huge profit. Don