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.)

almost 16 years ago

in response to khareema's message

That 20% gain Ivanhoe Mines got yesterday was just for the first day of the news of that drill result. The stock (symbol IVN on the Toronto exchange) went from C$2.42 to $2.90 yesterday. Today it hit a high of C$3.50 - a gain of $1.08 from yesterday's $2.42 starting price. That is a 44.6% gain in two days.

While this might not be anything you, personally, would get too excited about (as you say), I think most investors would be quite happy, or at least very encouraged by the results. I just checked their stock price and it was at C$3.12 (so, down from today's highs, but still a good gain for two days).

In this kind of market, 20% and 40% gains are generally welcome news, especially when they take place over one or two days while the other mining stocks are sitting still, or losing ground. That is the point I was trying to make. That Noront can - by similarly hitting some more high grades of nickel, platinum, or gold - make some significant share price gains (just like Ivanhoe did yesterday and today), even in the face of stagnant or declining stock prices for other mining companies.

If anyone cares to read Ivanhoe's press release that I'm referring to, click on the following link:

http://www.mineweb.com/mineweb/view/...