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

To: G.T. who wrote (2409)	3/26/1999 2:11:00 PM
From: E. Charters	Read Replies (1) \| Respond to of 5821

Well let's put it this way.. in the grand scheme of things in that province du mineraux the results cannot be as bad as the meltdown in the stock.. in the long term.. However, unless NWI finds a few of these animals It would be difficult indeed to justify a multi dollar share price. I stand by my original assertion that 5 million tons is about it for the one.. at first glance. But at the Raglan that is all they found too, per deposit. They just found about 20 of the things. This is what you must bank on. The probability of a cluster effect? Well I would say it is much better than at Voisey Bay. It has happened before to Inco and Sherritt Gordon. It happens all the time in Kuroko type deposits. The three chief disappointers were at Kidd Creek. Geco and Voisey Bay. Actually Geco's singularity was more due to the crowd following Noranda than there actually being only one mine there. We don't have to bet on this kind of one of a kind thing happening here. But it will be expensive to disprove it. Inco and Sherrit spent millions on Lynn Lake and Thompson. The Lynn Lake orebodies where characterized by weak magnetics so we must not let the surficial geophysics define the size of the orebody. The EL orebody (One of 5) at Lynn was 2.5 million tons of 2.5% Ni. That is the sort of thing we should be looking for here. It was in a plug that was 1200 feet in diameter and the ore pipe was 350 feet in diameter. Massive sulphides was about 25% of the total ore. Lynn Lake built Sherrit Gordon. We can speculate that some more discoveries could make a massive difference to NWI. But it is not guaranteed by any means. I would expect about 50% of the holes to be intrinsically satisfying. Delineation is a difficult task. EC<:-}