wopper you write: " I think Noront is about to be bought out. Yes bought out. Sadly I don't think for anymore than $5 bucks a share but probably closer to $3.50. Don't shoot me for my thoughts."
Wopper, but yesterday you posted about a rumour that 500m was not set aside for Kwg and Spq but for Noront. Remember that post? So, that would be $2.28 per share buy out.? Today your anticipating $3.50- $5.00.?
Buy the way the 500million is actually 400 million and if you go onto Cliff's website the NR is there. And it doesn't mention anything about using the money for acquisitions but does mention funding.
I am thinking back to actions and statements made by some pretty smart people like Pierre Lassonde. Here's a post from 2008. This man along with some other mining veterans bought in at $4.00 and warrants at $5.00. I don't think they bought in to get their money back a few years later.
Pierre Lassonde recap
posted on Jul 17, 08 01:18PM
Recap of April financial post:
"I think it's the most exciting discovery of the last 10 years in Canada, no question," says mining veteran Pierre Lassonde. "It's got an enormous amount of potential and you've just got to love the grade
Mr. Lassonde has his own theory. He thinks the geology bears almost no similarity to the Sudbury Basin or Voisey's Bay, but that it looks a lot like old nickel mines discovered by Western Mining Corp. in Australia and Jinchuan Group in Asia. In each case, the largest deposits were found deep below the original discoveries.
"The key will be to first drill on surface and discover the ore bodies closest to surface, because that's where you will get your money back," Mr. Lassonde says.
"It will take two or three years to define that. After that, the key will be to start drilling down deeper."
He said he will be "absolutely the most surprised person in the world" if the discovery does not get bigger in the months and years to come."
Lassonds says, "The key will be to first drill on surface and discover the ore bodies closest to surface, because that's where you will get your money back,"
We have a news release recently showing this The realization of very high Ni grades (6.5% to 7.0%) in the massive sulphide zone allows Noront to consider the possibility of first shipping unprocessed ore to a southern based concentrator/smelter complex. The construction of an on site concentrator for the disseminated mineralization would be accomplished out of operating cash flow under this scenario. This concept would be considered in an early preliminary economic assessment with minimal capital costs and an early production date, subject to all necessary consents, approvals, permits and land use requirements. While Noront would need to complete a feasibility study, prior to undertaking this direct shipping approach, management of Noront anticipates there would likely be potentially minimal impact to the environment and the mine development would provide road access to several local native communities currently with air access only.
Today's release is great and further proves mineralization and also updates DE2 )
Latest drilling at Anomaly AT2 (Eagle Two), continues to probe deeper and delineate copper - nickel mineralization in a shear hosted sulphide setting (Eagle Two SHS Occurrence) now delineated down to a vertical depth of 580 meters along a strike length of 200 meters
mining veteran Pierre Lassonde seems to be right on the money!
