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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PP= dilution=control of company

Noront Resources

over 13 years ago

Re: PP= dilution=control of company-P/P???

Noront Resources

over 13 years ago

in response to dbunker's message

Been a lot of talk of another P/P (last one $10M after the AGM closing 26 Nov)

My argument is to debunk this theory, that another P/P is on the way and is for why the SP is languishing this week.

First we'll look at yearly expenditures, reported on year end reports (Fiscal Year end is always April 30)

For 2009 expenditures $24.9M (30 Apr 2009)

For 2010 expenditures $10.3M (30 Apr 2010),...

Now to start fiscal year 2011 (1 May 2010) we had cash and cash equivalents of $21.5M and during fiscal 2011 we had a surprise P/P announced after the AGM that was increased in size to bring in $10M more. This would total $31.5M available for fiscal 2011 which will end 30 Apr 2011.

There is no way from my perspective (drilling campaigns, surveys etc) that the company has spent anywhere close to 30 millions last year.

More like 10-15 million at the most! Just can't see another financing is needed in the very near future.

Cheers, Mark