Does anyone have answers? LOL
I don't know if some of these would be best addressed to Agoracom, I thought it best to discuss it here first.
I am confused by the recent events: the dissident proxy said Noront squandered opportunities and their burn rate was too high.
Now we have 3 of those folks on the team.
Now they are cashing up, for reasons we cannot fathom.
What is their plan? Are they hunkering down and getting the burn rate down, or they going to drill to beat the band and need money to do so? A little explanation would go a long ways, because until we know the motivation of the BOD, we are receiving mixed signals here. And left to our own devices, that generally doesn't evolve into good will.
Anyways, I've been talking with some people smarter than myself, and this has left me with some valid concerns:
What they said in the PP:
Noront has $25 million in the bank.
What they didn't say:
Rebate of $3-$5 million forthcoming from the Quebec gov't for Windfall.
What they said in the PP:
This will finance another year of drilling.
What they didn't say:
If they pushed the SP up, they could exercise the December warrants and get another $3.5 million in the kitty, and with further tightening of the belts, extend the drilling budget by at LEAST another year.
So, given my rudimentary math here, doesn't the above scenario leave us with over $30 million BEFORE the PP, and if they plan to drill on $10 million a year, why not trash the PP and drill for 3 years with the CASH ON HAND????
It just doesn't make sense, they need to address these discrepancies, IMO.
JMO
