Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

over 16 years ago

in response to pw's message

Eventually we will find out because it seems highly likely that Noront while they will sell off 'Ring of Fire' will keep and put Windfall into production.

The geology at Windfall is far from simple as it consists of a series of 'lenses' and drilling from surface couldn't really define quantiy or quality. Knowing from surface drilling that sufficient grade was there to warrant mining Noront bit the bullet to prepare a Portal and both do a bulk sample as well as drill to define mineralization.

There has been no factual based determination of likely reserves or their value which is why the market generously puts a value of $1 a share or $135 million on Windfall. Perhaps by late this year news will come up to confirm that figure or increase it.

Guess it's one more, even if minor, reason to hold on to Noront shares until all the smoke clears and shareholders end up with a pile of cash and a producing gold mine.