As we all know, Noront has changed the date to get this done from Q42010 to Q12010. I thought they were just taking advantage of the down time at the RoF due to the FN logistic halt as all drilling must stop during the 43-101 assessment. However, it has been pointed out to me that major investment players pull up our current 43-101 on Sedar and see us as only a 3M tons nickel play in a remote area and move on without further looking at us.
A new 43-101 compliant resource estimate of 10M tons or more will make these bigger players take a more serious look at us. Our current price reflects 3M tons IMO. Once we publish this new resource calculation, we should see a price increase reflecting our new resource calculation. Noront is hoping to have this done for the PDAC but because it is prepared by a third party, it is at their mercy for timing-so no guarantees here.
Noront is organising 2 events at PDAC this year. The first is a technical presentation for analysts but Noront, in respect of retail, has invited myself and Larry Hoover and a few others to this event. I believe this is a great sign of respect from Noront to retail and I thank them for it. You can look forward to our thoughts on this presentation shortly after it is done at 1:30pm on Tuesday March 9th.
The other event is a cocktail Gala where Noront will unveil some new tools they have developed. This should be a fun night and again, Noront has thought of retail and I have received some invitations to hand out. If anyone is at the PDAC and wants to attend this evening on Tuesday March 9th, please send me a PM.
The next few weeks may turn out to be very signicant for our share price with the potential for:
Lifting of the FN logistic halt
tripling of our current 43-101 resource estimate
AT-12 news
Good PR from the PDAC events and conference
At our current share price, the down side is fairly limited so I believe we will see an increase in SP, especially if 2 or more of these potetial news events are positive.
Glorieux
