Dick's problems are that they are great geologists... Here are the points as an investor I would love to make to Dick - as to what needs to be addressed to keep him where he needs to be... This is my MBA talking...
1. Share Price, share price, share price, can't tell me you are doing a bangup job when the market is telling us otherwise... So don't tell me what you have done - tell me what you are doing to fix the problem with my shareprice or I will unseat you! If you tell me a plan that you have as to why I should keep you - I know I am way better off keeping you then switching to someone else who I know - will rape me in the end...
Step 1
2. Why are we dropping like a rock..... because these finds are in the Middle of Northern Onterio - and no one knows what it will cost to get the Nickel and Chromite out and if it is economically feasable... I really think they should have taken the time several months ago to explain that Eagle 1 is harvestable, if that is all we have, and what this would cost and what we would get from it interms of $$$ (so we could all calculate a return we are comfortable with given the risk - and have a rock bottom price we can believe in).
The amount is around $3B - $10B of resources needed to go full scale with a railroad, full blown mine etc. Whe sprout came out with that, management should have said this is what it will cost to get this out and this is what it will cost to build our railroad - we are currently X short, or we can build the railroad and that is all we will have. The problem with this stock right now is that it is being valued as if we will never be able to get Eagle 1 out of the ground - litterally it is all Blue Sky (not the other way around). How much Chromite do we need in addition to Eagle 1 to be able to build a railroad? That is what makes this stock such a crap shoot...
3. Sounds like the geology of this area is as Rich as Voisey Bay but the Nickel serpentiens through the ground and it is my understanding that deeper then 200M your airborne surveys are worthless... I think we will find the mother load at 500M or deeper... So not just any swinging dick can hit these resources... So if you replace Noront management - you may kill this project.... because we know that Noront Management can hit the stuff close to the surface with 1 drill hole, sitting behind a desk 1200 miles away in Toronto... finding the other Eagle ones is where being a true professional in the industry lies....
Whoever is handling the strategy for this needs to be getting these numbers out to the mining analysists....
