Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (7216)	9/11/1998 10:31:00 AM
From: VAUGHN	Read Replies (1) \| Respond to of 11676

Hello John Been away for a bit and have not surfed previous posts so hope this doesn't duplicate: Russia's Norilsk untouched by crisis Reuters Story - September 10, 1998 13:40 MOSCOW, Sept 10 (Reuters) - Russia's financial crisis has not affected output or export volumes at the country's major nickel and precious metals producer, Norilsk Nickel , company spokesman Igor Plotnikov told Reuters on Thursday. "Problems in the financial sphere have had no influence on Norilsk's production or on honoring its obligations," he said. He said the crisis and the devaluation of the rouble currency would not lead to an increase of Norilsk's exports as some analysts believed. "The extraction, production and export volumes cannot be increased all of a sudden," he said. "Besides, nickel market conditions remains unfavourable and it would be silly to worsen the market further by increasing exports." Plotnikov said that difficulties were only being experienced by a small number of the banks used by Norilsk to transfer money to suppliers and contractors. Norilsk has also not abandoned plans to issue level one American Depositary Receipts, Plotnikov said. "The process is held up at the U.S. Securities and Exchange Commission which is not saying "yes" or "no" until the situation in Russia is clearer," he said. Regards