Tomorrow I'm selling my Noront shares. It's a simple trade. I'm going to sell Noront and buy Kaminak Gold. My feeling is that Noront will get bought out soon for less than $3 and Kaminak is going to do better than a 200% return.

I'm probably wrong and Noront will drill deep and find 15 mil tons of nickel and the stock price will roar back to $7. But I'm a gold/silver investor and I've lost my patience. Last year was really ugly for drill results on Eagle 1. I can't stomach another bad year of drill results and the stock to languish around $1 / 150 MC.

I figure if they were going to find more nickel it would have been in 2010. I knew it was a bad omen when the fired Richard Nemis. I really liked him and he is a smart guy. Why did that happen? It was bad karma. I should have sold then, but I was greedy and wanted to see what was below Eagle 1.

I'll miss all of you. It was fun while it lasted. Time to move on to the Yukon gold rush.

Newager

If FNC finds a large extension, the upside for this stock is tremendous. This is exactly why I bought this stock -- to drill that potential extension. FNC has a market cap of only $20MM, yet they are one drill hole away from a big time deposit.

They might not find it, but I like their chances. It's going to be really deep and expensive to mine, as well as costly to drill out. However, whoever mines Eagle 1 will likely buy it. I would expect someone like Valle to come in a buy both companies. I've always thought the threshold was at least 20 million tons to get the big boys interested. This extension could be the final push to that magical number.

Newager

Everything points to Cliffs. They have been buying up companines in the ROF. Why not go after the king? Especially at it's current low price. The longer they wait, the more risk the price could rise substantially. If we raise the tonnage to 20 million tons of nickel over 2%, where does the stock price go?

This has been my fear with the current low price. Someone is going to steal our nickel from under our nose, and there is nothing we can do to stop it.

Well, this is likely the end. I will take my profits and buy Endeavor Silver, or another precious metal stock with lots of upside. The downer will be that I won't be able to follow this blog anymore -- since Noront will be going bye bye.

Newager

I've always been intrigued by Fancamp because of their lease near Noront's Eagles Nest. After looking at Noront's ZTEM map that was released yesterday showing the strike heading towards Fancamps property, I had to finally buy.

The timing was great after the gap down this morning and getting in at .43 cents. I feel confident that a company with this many opportunities will not have a market cap of $20 million for much longer.

Yes, it's a risky investment and they may find nada and linger as a micro cap. But I like my chances. With any luck this could be a growing company.

Newager

A 50% move this week... Hmm. From my perspective this can only mean one of two things. 1) Someone is going to buy Noront and word leaked. 2) Noront hit another major hole.

Going by past history, my guess is we got another major hole. Noront has a done this several times at McFaulds Lake. Why not again?

Newager

According to my math, Noront now has more that $500,000,000 in PGMs, and perhaps double that if PGM prices keep rising. That makes this mine very profitable. The cost basis for getting the Nickel out of the ground is going to be low.

I still think it is a more risky investment than a gold or silver junior, but I'm staying in the game. Demand for Nickel is not a done deal. We still have to wait and see how the U.S. debt situation plays out.

If China and India can keep growing, then this stock should do very well over the next 24-36 months. I like our chances. I like those PGMs.

Newager