Everyone including the MD is now talking about the Voisey's Bay analogy. For those interested the attached is a cracking read.
Important to note is that INCO paid $4.3B for the project back when the dollar was actually worth something. If we have even half of this then $2B/242m=$8/share.
Just Thinkin......
Voisey's Bay is the site of a massive nickel deposit whose vast potential has riveted the attention of the international business world. The discovery of the deposit in Labrador, the struggles for controlling interest in it, and especially the extraordinary players involved drive this amazing business story, which often reads like a suspense novel.
At the centre is Robert Friedland, an ex-hippie and disgraced Vancouver stock promoter, who by sheer luck ended up holding all the cards in a high-stakes poker game that pitted some of the world's most powerful and conservative mining companies against each other.
When news of the Voisey's Bay motherlode began to circulate, nickel giants such as Inco and Falconbridge were swept up in the excitement, competing in a series of takeover bids for control of Diamond Fields, the company that controlled the find. It all culminated in Inco's winning $4.3-billion offer, the largest takeover price ever paid for mining property.
SIR Price at posting:
$2.79 Sentiment: Buy Disclosure: Held
