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: 52 cents close!!

Noront Resources

about 13 years ago

in response to teddybear's message

Baosteel did not chip into this venture to walk away through a termination penalty. That fee is more applicable to Noront as a disincentive from switching to someone else.

As for share price. note our previous financing at $1.25. Sp dropped by 40% from that afterwards. I suspect similar from the 0.86 of Baosteel's entry, so about $0.50 for sp if the 40% tax break is the cause.
What if they have a 50% break from China? Anyone know what the tax breaks chinese companies get from their govermnent.
In a world of uncertainty fear often trumps fact. Little or no news from management means investors walk away and sp drops as a result, which causes more to leave. A domino effect. Something spectacular is needed to break the trend.