Friday, August 31, 2012

Timminco - How Eric Sprott Got Solar Burn

They came to see the breakthrough.
That is, after all, what the company called it: a “breakthrough.”
What did it look like? How did it work, exactly? Did it even really exist?
They hoped the answers would be found in B√©cancour, Quebec, a weary industrial town–home to Quebec’s only nuclear-power reactor–that sits kitty-corner across the St. Lawrence from Trois-Rivi√®res.
It was here, they were told, that the breakthrough had been made. There were about 50 of them on the bus. Nobody talked much. Some had come from Toronto, others from New York, Boston, Connecticut–institutional investors mostly, along with a few analysts and a good sprinkling of hedge-fund types.
It was May, 2008. No one knew how much the world was about to change. Lehman Brothers was still a major player on Wall Street.

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