Gang, I am off to NYC for three days of meetings and wanted to leave with some parting comments (though I will be looking in when I can) some of which are repeats but need to be repeated for clarity.
1] I continue to believe Noront is a great company with the potential to enrich everybody here over the next 3-5 years (nothing happens overnight).
2] As such, though I can't financial advice, I would not be selling any shares all other things being equal.
3] Though I have an opinion on the actions of the BoD in terminating online IR, I continue to respect the community and leave it in your hands as to what, if anything, the discontinuation of communications means. From a contractual point of view, it represents less than 2% of our revenues and, if you follow the wires, we've been adding way more clients than losing.
4] My opinion stems from the fact we are in a state of global market turmoil and I personally know how hard companies are fighting to add and maintain shareholders. As such, when a decision like this doesn't make sense, I start to look/ask for other opinions on possible motivations.
5] There have been a lot of differing opinions here. That is fine. Nobody should take anything personal as, for the most part, everyone has debated on the facts and not on personal grounds. For example, D12 and I have always laughed about the Greeks and Italians but we respectfully disagreed on this topic. Nonetheless, I've contemplated what he has had to say, as should everybody and vice-versa.
6] Let's keep our focus on the company and the best interests of the shareholders. Nothing would make me happier than to see long awaited drill results and a qualified CEO announced tomorrow. On the other hand, if neither of these occur within a reasonable time, investors have both a right and duty to hold the company accountable.
7] Let's all take a breather and enjoy the good weather that most of us on the East Coast have not seen for a while. For those of you with kids on March Break, have fun with them. Noront will be here tomorrow and for many years to come.
Have a great day and talk to you soon.
Regards,
George
