Corrective Action Noront Must Take Now!
Proxy fight or not here is what our company must be doing today for us not to lose our investments.
Step 1 - "I am sure Richard is already doing this"
Talk to the Majors that are interested in Chromite - find out mine feasability.. If it will be with our grades and widths, how much do we need for them to buy in? The Blackbird press release mentioned "mega project" if this is true - this is what we need to be working on!
Step 2 - "Stop swinging for the fences for Nickel and Gold"
Stop all drilling operations on anything other then proving up the Chromite. Use all three/four drills on these deposits. Prove up the 30-50-70 Million in tonnage we all know is up there as quickly as possible - while we still have money to do so.
Put Windfall on hold
Put drilling for Nickel on hold
Go back to those projects once we have a major on board... and more cash in the bank!
I know the market does not value Chromite Deposits - but I do think if we have a 43-101 that states we have $10-20 Billion of the stuff in the ground w/ a major on board our shareprice would get fixed.
I believe this is the best and only course of action given current market conditions. Tell me I am wrong but we have probably $30MM left at this point... (who wants to go back to market?) we must complete one of these projects and as much as I hate to say it the Chromite shows by far the most promise! God I wish it was the Nickel or the Gold but it is not!
I still believe in Richard - but he needs to evaluate this as soon as he wins the proxy fight!
