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

To: Just G who wrote (2733)	3/31/1999 1:02:00 PM
From: Alastair	Read Replies (2) \| Respond to of 5821

Nuinsco Resources Ltd. (T-NWI), $1.35 Rating: Reduced Mixed Assay Results From Lac Rocher, Quebec Target: Under Review Year High / Low: $3.47 / $0.20 Shares Outstanding: 49.4MM (53.3MM diluted) Market Capitalization: $67MM Cash: $10M Nuinsco Resources released results from four additional holes drilled on their 100% owned Lac Rocher property near Mattagami, Quebec. Drill Hole 99-06 returned the best result including a cored interval of 2.57 m grading 0.76% copper and 11.24% nickel, within a wider zone of 44.5 m grading 0.60% copper and 1.03% nickel. In addition, 3 holes intersected variable widths (4.72-66.33m) grading between 0.70% and 1.82% nickel. One other hole intersected granite and gneiss. These results, although geologically encouraging, are not impressive enough to maintain Nuinsco's recent stock price ($1.75+). This discovery is at a very early stage, and we believe the combination of geological setting, a high nickel to sulphide ratio, and excellent initial assays makes this a quality speculative play. The mineralization remains open and the potential to build a reasonable tonnage of the current high grade material (1 million tonnes plus ) remains. There is also the potential for discovery of a thicker, feeder style area, that could occur in the system. However, it is our opinion that the mineralization is, at least, moderately complex and the potential for mixed results over the next series of drill holes is likely. Until enough information is available to make a reasonable interpretation of the mineralized zone (size, trend limits), the risks associated with the play remain high and additional mediocre results could push the stock to still lower levels. Look what i found!!