"8 billion $ value in ground now, JUST for Eagle's Nest. Now 185 million shares outstanding. With N.I. 43-101, (explorer status) resulting 5% valuation per share is $2.16. With feasibility study that becomes 10% and per share of $4.32. I can not state it more simply. Next stage of in ground valuation is with environmental inpact study, building permits and basic infrastructures present (road and/or rail access And power), becomes 20%. Final stage, mine completed and begining operation, = standard valuation of about 40%. With Eagle's Nest being so rich it is more likely to be 50+%. Take that 8 billion $, at 50%, over 200 million shares and it becomes $20/share. That is where the common hype comes from. Granted the shares outstanding will likely be more like 300 million ( much construction is financed by loans especially in low interest times instead of issues of more shares ) but to get there we will likely have more discoveries and even Eagle's Nest will be more proven out. I say they will probably cancel out each other, but even if worst case happens then it is 4 billion $ over 300 million shares = $13/share. Nothing to scoff about. "
Perfectly logical. I cannot argue one single point. NOT ONE!!! Everything here is an exact blueprint of how things have worked in the past, and "SHOULD" work again for our dear old Noront... There is a catch, however:
In order to get your valuations as you described, you need 50% plus one share to think exactly like you and vote with you!!! Your valuations are dead on. But, do the institutions that hold 60ish% of the shares share your ideas, or do they want their profits NOW!!! I have learned that the hard way. You do not always get what YOU want (I am speaking about ME here!!!). You are only entitled to what the majority of the shareholders are willing to take, and if that is $3/share, that is what we will get. The truth of the matter is, it is how long the institutions want to hold that really matters. Sucks big time, I know. I would rather they started to mine Eagle 1 Level 1 ASAP in a reduced capacity over ice roads trucking out the high grade ore out with trucks for a year, STARTING NEXT WINTER!!! Maybe then those interested in making a serious offer for Noront will get the picture. Then, MAYBE, we would get a better value for your shares, again, dependant on that 50% plus 1... Until then, we will be at the mercy of those who have a TON of shares... Plain and simple...
Herb
