I have not posted here for quite some time. However I read most posts and I have noticed there has been a common theme on this board with all the posters that come and go. First of all, there is a realization of the value of Noronts deposits, then there is the waiting, and the monotony of waiting gives way to bewilderment that nobody else gets it. It all gets rationalized into manipulation, hedge fund extraction of value and dilution of share value. All this is going on without a doubt, as it does with nearly every junior explorer until they get taken out by a major. Nobody is diddling with the companies Cliffs took out and as K says, lots of retail made money on these deals.
What has always been clear to me, even though I have lost patience with this stock several times, is Noront has great value that is offset by infrastructure liabilities. By my rough calculations, NOT has about $8 billion insitu value in M&I and $5 billion in inferred deposit at Eagles Nest. This does not include the "R" elements or the chromite. Cliffs presentation says they have 69.1 million tonnes of chromite which at $325 per tonne is $22 billion. Just these two deposits alone are worth $30 to $35 billion dollars. The only thing that separates this ore from the rest of the world is a transportation link. Three scenarios are on the table, all weather road, railway and slurry pipeline. Government appears to be wanting this area to be developed. Ontario needs this and Canada needs this. In my opinion, this will happen and the share price does not in any way reflect the value of this company.
