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: Junk

Noront Resources

almost 14 years ago

in response to Edgy's message

Edgy, even though I no longer own Noront (Again), yours is one of the best posts in a long time so thank you. The value in the ground is undeniable. The problem is momentum and patience. The last year has been very painful for Noront. At this time last year, we were licking our wounds from the battle with Cliff's, then we had the FN blockade and then the disastrous deep drilling blunder after blunder.

With fundamental damage like that, the current share price is not a big surprise. However, the value in the ground has only increased. We are problably sitting at 10B dollars in the ground and a Market cap under 200M. So we are trading at about 2% of In Situe value. Clearly, Noront is very undervalued, but without a change in management, fundamentals (Eagle 3??) or share price momentum, it is very hard to buy this stock right now. There is a great deal of very good companies that have better management, share price momentum and better fundamentals. However, this story is very far from dead and the longs here will see prices much higher than the current levels at some time-I just do not know when that time will be so for now, I just keep watching this great story.

Good luck to the longs here,

Glorieux