IC - For the folks who do not know this story - what was the price of the stock before the release of the information and what price did they finally sell it for? Thanks

Let's see what I can recall. The stock was I believe under a $1 when the hit drill hole #2 at Voisey which was about 2% nickel. It was perhaps $4 after that until they hit #7 which was like 5% nickel for 100 meters. Then it was in the $10-$15 dollar range. At that point though it was well known they had a rare deposit. Final buyout price was $4.3B equal to about $26 per share (memory there) which means there wwas 165M shares out.

I can't recall the insitu value of the deposit at the time.

Times were a lot different then but end of the day, there were various suitors for the depoist because of the size/grade. Inco overpaid mostly becuase nickel prices are so volatile and the cost for the mine itself were also quite large.

Edit - i looked it up - 141M tonnes at 1.6% nickel, there was copper and cobalt as well but the nickel alone would be about $11B in situ (no where near the cash margins of the proposed Albany numbers).