iHub Mining Sector Entrance Lobby

[marcos]

dy.to - ' In October 2001, the Company received a statement of claim setting out a claim against Sherritt International Corporation and the Company, brought in the Supreme Court of Australia, by Fluor Australia Pty. Ltd. (“Fluor”). The claim relates to alleged deficiencies in the facilities of Anaconda Nickel’s Murrin Murrin mine development in Australia. The alleged deficiencies are subject of an ongoing arbitration commenced by Anaconda Nickel against Fluor, which was retained by Anaconda Nickel to provide engineering, procurement and construction services. In
the arbitration proceedings, Anaconda Nickel alleges that Fluor breached the services contract between them. The Company believes Fluor’s claim is without merit and intends to defend it vigorously.'

http://sedarfiles.stockwatch.com/sedar/viewsedardoc.asp?docid=303068
.. that's from page 6 of this doc, and is all i know of the lawsuit ... as for the 142m shares outstanding that sounds right, they had for years 124m or 127m fully diluted, something like that, the issued was 113m, then this year they issued a bunch to finance McCreedy ... reason for starting with so many shares at first was it was spun off from Sherritt, i think each share of s.to got you half a share [? - don't recall] .... anyway that sounds right, but i think the majority of options expire well before 2011 and the strike on them is .75 ... it'll be in here - http://sedarfiles.stockwatch.com/sedar/viewsedardoc.asp?docid=303065

.. i'm just back from town and don't have the energy to look it up .... interesting write-up by Schaeffer - http://www.schaeffersresearch.com/schaeffer/bernie_observations.asp?ID=6851

Here's dy's website - http://www.dynatec.ca .... i don't know the company in depth, but have tended to feel it was competently run ... Dengler had to sell shares a couple of years ago to pay a divorce settlement, that made for a buy opp, whacked the stock, then as it was generally beat down through the resources bear Normandy took over Ken Snyder and by company policy terminated Dynatec's contract, as ndy liked to do all their own work ... that hurt, but then they got in with the Fort Knox/Inco bunch, and may very well do great things at Sudbury [of course they have many other customers as well] ... they do seem to like a part-equity part-contract deal ... that's about all i know of the fundamentals, personally i intend to just trade it based on TA and seasonality ... that's a distinctive pennant sort of shape it's been making since last spring, eh ... actually, a smaller pennant within it as well, from Sept .... later, cheers