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To: Kelvin D. Nakamichi who wrote (27)7/12/1998 12:28:00 AM
From: BGraham  Respond to of 46
 
Will the company write down the Voisey's asset as has been recently suggested by analyst? Is it fair to say that this asset is carried on the books at the 4.5 billion acquisition cost. If the asset is written down , say to half the acquisition cost (don't have a clue if this is realistic or not!) what effect will this have on the book value in the previous posters figure of $33.00 book.



To: Kelvin D. Nakamichi who wrote (27)7/12/1998 1:55:00 PM
From: Cumbrian  Read Replies (1) | Respond to of 46
 
I am not sure that what occured in the past can be held as a benchmark for the future this time around.

Projections show nickel price to continue to be depressed for the next several years?

Ergo the wait may a little longer than anticipated, although steps being taken throughout the company are specifically aimed at increasing profitability.

Geoff.