Translated from a dutch article from Willem Middelkoop on 6th of December 2006.
At that time Noront had 55 Million shares outstanding. Eagle Hill now has also 55M outstanding shares.
So instead of buying into Windfall at 0,65 we can buy in again at 0,15.
New gold rush began Friday.
Just when Aurelian among investors, I think wrongly, considerable uncertainty has broken out after the election of a leftist president in Ecuador, we received news on Friday a major new gold discovery in the politically safe Canada.
Noront Resources (NOT.V) came halfway through the trading day with a press release on the latest drill results from the Windfall Lake Property. The price promptly jumped 55% to 46 Canadian cents, at an unprecedented volume of this company for 8.5 million shares at a total of 55 million shares outstanding. The very last 45 minutes were 2.5 million pieces sold.
But back to the press release. The first holes were found to pose no gold, but suddenly there was a hole 06-100 record find of up to three gold veins. In the main, an average of 1327 grams of gold per tonne of rock found on an overall width of 4.8 meters.
To understand how great these values are the following mnemonic important. Multiply the number of grams by the number of meters in order to come to an index number (i = g xm). In this case, 1327gr x 4.8 m = 6370. In an index figure above 50 is normally already exist good values. Everything starts over one hundred to be spectacular. And over in 1000 is really only for very important discoveries.
For comparison, here the values of the largest gold discoveries of the past 12 years:
Noront (2006) 4.8 m 1327 gr / tn 6370
Aurelian FDN (2006) 189m 24 gr / tn 4526
Lihir (1996) 272m 5 gr / tn 1360
Gold Strike (1989) 164m 14 gr / tn 2296
Mesel (1989) 133m 8 gr / tn 1064
McLauglin (1978) 121m 6 gr / tn 726
Sleeper (1984) 102m 28 gr / tn 2856
Arequipa (1996) 77m 5 gr / tn 385
Eleonore (2004) 23m 15gr/tn 345
