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.)

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Re: ghost drills

Noront Resources

over 14 years ago

in response to luckylou's message

out of interest for my own knowledge...anyone have any idea of the cost to own one of these smaller drill rigs? I am assuming that it is not feasible for a comapny with a MCAP the size of NOTs to buy one or two drills outright, and lease them to other ROF companies when NOT has drilling "downtime"...(actully as the largest company and landowner in the ROF one wouldn't expect too much downtime, other than that secondary to seasonality... I am a bit perplexed as I do hold shares in 1 or 2 other juniors that own their own drill(s) (but I do believe these are companies with plays in Mexico that have year-round drilling capabilities). Does NOT lease the drills from first nations companies (ie. as a sign of "goodwill" )?. Is the cost of owning a drill prohibited by associated costs of paying a drilling crew? (are drillers contracted out by companies only in association with leasing of that companies drills...or does there exist "free-lance" drillers for hire?