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Gold/Mining/Energy : Nuinsco Resources (NWI) -- Ignore unavailable to you. Want to Upgrade?

To: Gord Bolton who wrote (122)	1/21/1999 9:15:00 PM
From: BLZBub	Respond to of 5821

Yes, this is my understanding. INCO acquired several hundred thousand shares and warrants, plus the right to participate at 50% of the Rainy River nickel play. They didn't exercise the warrants, and I believe a mutual fund picked up the shares in a block trade (ACI maybe?). The reason given at the time was that INCO already had Voisey's Bay and needed all of their financial resources to develop that mine. BTW last I spoke to the company (summer 98), they still believed that Rainy River has enormous potential for both nickel and gold. I would tend to agree with the speculation of others here that NWI will raise some more financing soon (within 4 weeks, say $10MM) some of which will be used to poke some more holes in the Rainy River.