Misfit's Midday Musings - October 16, 2007
posted on
Oct 16, 2007 03:20PM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Hello All,
Props out to Snezzer for what looks to be his best posting to date. I enjoyed the read. Mustangman, you also had a good one today when you listed the reasons for the SP appreciation.
A part of me is in shock at the events of the past four trading days. This puppy went from 3.30 to 6.30 in that short time period. Close to a double folks. I cannot even calculate what that is for those of us who accumulated more at .38 cents in August.
It is like watching a baby ($.18) grow up and become a toddler for most of the year ($.38 - $.80) only to instantly become a teenager ($3.50) and then an adult ($6+). I hope the kid retires next month :)
I cannot explain the surreal feeling of seeing a stock go from .18 to 6.38 in just under 12 months. I have owned not since the first couple of weeks of November 2006 when a friend of mine learned that I liked to invest in TSX plays. I had lost 50% of my porfolio in an orchestrated POS called Tahera in the months leading up to last November and took what remained and bought a nice position of NOT at .20. All based on some info from a friend of a friend who probably also had a friend. You know how it goes. Since that time I had since averaged up, which is not always a bad thing.
At the time my friend had 150K shares and his source had 1M. His cost was $22K and his friend's $150K. I remember thinking that $150K was a lot of money to invest in one stock. But then again, if it only hit a buck that would be $1M I thought. Kinda wished I had that kind of money to play with last year with NOT, but don't we all.
Funny thing is that it did hit a $1.07 last December. I wonder if that guy sold.
So seeing $6 today was a bit overwhelming. Most of the longs here since last December will agree. We joked last January that NOT and Windfall would give us the next ARU. As we joked the price kept dropping and dropping. Many of those who invested in the PP dumped their shares and took the 10 or 20% profit after the four month hold period. Still, we waited. Hoping for Gold based on one really amazing drill hole at Windfall.
Sometimes in life you have to be lucky to be good (or is that good to be lucky?), so when Noront pulled the first sulphides out of that marshy lagoon they call Double Eagle, things were looking up.
Then all hell broke loose.
Hole 5 changed everything. Those who know mining knew the results were absolutely spectacular. Unfortunately, most investors do not know mining and sold after news. I mean really.. how does a stock drop to close to $3 on that kind of news. It took us all for a shock. It is nice to see that the market is finally recognizing what a good thing is going on right in our own backyard.
I can think of know better way that I could have spent my time this past year than with many of you as we encouraged each when the stock seemed dead. What kept me going was a picture of the Windfall NOT 06-100 drill core that I printed off of the Noront web site and posted near my desk at work. I look at it each day as I love to see the visible gold. I wonder how much is not visible inside the core.
To think we are at $6 and Windfall is just starting to see some action at the camp in terms of ramp preparation.
If I only experience one of these stock appreciations in my life, I am glad that it happened now. It is something I will tell my future kids about oneday when I teach them to balance risk vs. opportunity. Life is truly lived taking risks, and this one has paid off. In a big way.
I welcome all the new NOT investors to the board. May you see a 10X bagger on your investment over the next year just like many of us have. (That would give us a 100X but who's counting)...
I am not here to pump the stock as the assay results and the eventual tonnage estimates do that on their own. My goal is to learn more from others concerning my investment in NOT while sharing information related to investing as a whole. I say we keep the other stock recommendations to private emails until such time as things get quite on here. It was fun to hear what other people thought were good plays when we had nothing to talk about last June.
While I wish I had somebody with "the little birdie" information (okay, maybe ShareWizard was close) in my hip pocket to assure me that NOT would take off, it was junior investment fundamentals that kept me in the NOT game.
I say junior investment fundamentals as they are totally different from Fortune 500 fundamentals. It takes a whole different skill set. An entirely different knowledge set. And an ability to contain a set of emotions on a much more frequent basis. Nasdaq guys lose all at once because of overall market doldrums. These happen a couple of times a decade. Small cap investors can lose a variety of ways in a matter of days that have nothing to do with external forces, and a lot to do with manipulation and illegal tactics.
It is boards like this and the unbashed ones at Stockhouse and others that help us to wind through the small cap mine field together. For me this is just the start. I have a number of other plays that I continue to focus on and that I might share with you when the time is right. Suffice it to say that these are at the same stage as when Noront when Noront was at $.18 cents. I am hoping history repeats itself, but I know the odds of that. So a few multibagger potentials keep me satisfied.
At the end of the day, the reward in not only in the $$$, but in the victory over all of the forces that are set up to steal from those who's only option as a long is to hold. Looks like we turned the tables on them this time around.
Congrats all! May this ride keep going and may we start to replace the nickel with Gold next year.
Misfit1.