Im not one hundred percent sure what the point of the first message was. If you are so upset with the company sell your shares take the loss and move on with it. Apply this loss against gains your making elsewhere because based on your post i imagine you are also invested in companies that are doing quite well. Why would yolu invest in a company you only have negative things to say about. By going on these long negative rants all you are doing is taking away whatever confidence in the company the other shareholders had. I thought this was an investor forum not a lets bash noront forum. I am personally quite happy with the company i am in it for the long run and if we get bought out that works just fine aswell.
a number of the things you bring up in your argument are just things your saying without actually knowing the truth. I for one dont claim to know all the facts surrounding the things either but i dont sit here trying to make people feel bad about where they put their money.
I will try to address these the best i can but i have seen how emotional this board is and how they cant stand people sticking up for the company so i imagine after this post I will end up losing a bunch of points and my rating will go down so for all of you waiting to push down my rank I'll come out with a Noront sucks/ richard nemis is the greatest post later.
1.) I am a new investor to the company but have followed for some time. The press realeases shouldnt be all positive the press releases are supposed to put out facts and let the investors know what is going on. So they are not sandwiching anything between anything we have a right to know the good with the bad and they are letting us know, i am glad i invested in a company that has chosen to deliver all the news. It would be alot worse for the shareprice if they put out negative news on its own and the positives in that press release weren't all that impressive to begin with.
2.) Noront is not the ones drilling the holes. They went with a drilling company that was unable to drill and that problem has been addressed as they are no longer drilling with that company not even shorter holes. Its not like the drillers told Noront they cant do deep holes cause why would anyone in their right mind go with someone who tells them they cant do something. Also drilling holes that deep is really hard almost every company that deep drills has difficulties thats the nature of it all. Also the guys at noront do not have outrageous compensation packages compared to what people in the industry are making. The builk of the compensation is options so really thats an incentive to work harder. Also i imagine at our current shareprice everybody at noront is out of the money.
3.) Wes has to highlight the issues because people dont seem to understand the actual challenges faced. This forum is a great example of lack of understanding. In terms of RN he did some great work and the company owes alot to his hard work but at the same time you cant go out an highlight problems when your are 1 trying to generate interest in a new area not even a project and truthfully richard nemis in the early days did highlight alot of the swamp issues probably the reason why windfall lake was noront's flagship operation for so long (they have an exploration ramp at windfall). In terms of what has been discovered. Since RN and not to take away from him because again I definitely as a Noront investor owe him alot, the guys at Noront have not only drilled hole 49 they drilled hole 70W1, 80 something, and a bunch of other ones that actually more than tripled out resource at Eagles Nest, they got a good understanding of the geology (originally the mineralization was believed to be lenses turns out they werent which was great news for us investors) , the current team put out a chromite resource, the first ever in Canada, we have made huge progress in our dealings with the first nations, we even identified chromite mineralization that is amongst the highest grade ever found not only in the ring of fire but in the world (blackstone discovery). These are just things i recall there may even be other things that i am forgetting but again these successes are being forgotten because of our current shareprice which again could be due to a number of factors.
4.) we didn't give away that much chromite and we actually traded it for exploration potential that could have been way more lucrative but again its a tough business sometimes you miss out its hard to find ore. I have heard for every 10,000 mineral showings there is maybe one deposit and of those deposits it rare that they are economic so really the whole business is speculative and we took a risk. In terms of going back to AT-12 im sure there is a reason to go back there if you look on the website the advisory team is a grounp of incredible scientists Dr. Mungall, and Dr. Giovanazzo, along with Mr. Steve Balch an incredible geophysicist, so i imagine something in the data has shown a reason to go back there and if minds like that suggest you go back its always in your best interest to go back. I point you to stories in Sudbury like FNX and the podolski discovery this was a deposit that was found in an area that was originally written off and this is just one such example of revistiting and finding riches. Also in terms of the conditions we have to realise how dependant on the weather and elements we are so if its not safe we cant explore there i can assure you i would not be a shareholder of a company that puts peoples lives at risk.
5.)the failed freewest thing was unfortunate but atleast we tried we went up against a 10 Billion dollar company that is the worlds largest iron pellet producer as well as the oldest company on the nyse it was a tough battle we fought it out and at the very least we attracted a big player to the middle of nowhere. And i think our relations with the first nations are very good so the risk of a blockade has been aleviated and in terms of a deal, the government has to help out and they havent follwed through with what they said about the ring of fire.
I had to post this because i have invested in a company that I believe in and has made some big strides forward. Markets are unpredictable and you never know when things will move up or down and i just dont like the concept of people discouraging other shareholders we bought into this company for a reason lets not forget it and stick together we have a good thing here. I can assure you there are better days ahead so use this opportunity to average down and just hang in there.
just my two cents and im sure my rating just plummeted but i said what has to be said
