Wow,
That brought back some good memories. Hard to believe that even at today's share price the secretary who answers the phone has options worth 4 times their original .75 cent strike price. And to think that for months leading up to McFaulds news the price was averaging in the .30s and .low .40s.
I have told my friends who ask about Noront that we really have two sets of shareholders. The originals and the new Double Eagle gang. Like yourself and many others (too many to name), we are the old gang who bought anywhere from 18.5 cents (or cheaper in some cases) to the high December 2006 of $1.07.
Most of the shares bought between the halt last August and the first assays from Hole One at DE1 would have been the old group adding more between .60 cents and $2.00. It was following that original news at $3.00+ that the new group bought in. While we all suffer at the current price, it is the new group that has seen negative returns. They have not had the thrill of more than a double at most.
The old group at .18 cents would have seen 40X share price appreciation at $7.20.
The reason I draw attention to this is that the new group is facing the same pain the old group faced until last September. 99% of us had share price purchase averages over what the share price was trading at last August. I would put the average of most at between .50 cents and .80 cents based on what we knew of each other. So the drop down to .35 cents for a few days is similar to what the new group has faced lately. My guess is that 99% of the new group has bought in over $3.50, most at $4.00 and $5.00. This is based on looking at the trading prices on high volume days.
But what kept us together as the old group was the SH board and keeping our eyes focussed on the prize at Windfall. Now the new group has inherited that prize and has invested in the new prize at McFaulds.
The key here is that while it may be perceived that the old group has less to lose than the new group as they are dealing with less profits as opposed to more losses, the loss in share value hits each bank book equally. What I can say is that the old group fully understands the pain of the new group of holders as we went through the same thing between January and August 2007. From $1.07 to a low of .29 cents. The emotions back then were the same too. Demoralized, infighting, shorters bashing out company, and manipulation by the hedge funds. In the end the shorters got burned, the faithful rewarded, and a new group of people boarding the ship.
On this new boat we try to keep people from jumping overboard. Though the boat is much bigger the destination has never changed. We wanted $10 last summer before DE the same way we want $10 this summer. The only difference is that last summer it was a dream based on Windfall. This summer it is just a matter of time based on some real goods coming out of the ground at McFaulds.
So old and new, we can all learn from each other and keep the faith which the oldies like Bravekind diligently work to encourage.
M1.
