Post says Noront's Nemis unloads 50,000 shares at $5.15

2007-10-29 08:52 ET - In the News

The Financial Post reports in its Saturday edition that in early September, Noront Resources was classified as a little-known penny stock. The Post's David Pett writes, however, after announcing a major discovery of very high-grade nickel and copper sulphides in the McFaulds Lake camp in the Lowlands near James Bay, investors jumped on and shares took off closing Friday at an all-time high of $6.25. Noront director Richard Nemis appears to be hedging his bets, unloading 50,000 company shares at $5.15 each on Oct. 15, 2007, but with 150,000 shares still on balance, his trade shows little more than taking a bit off the table in what only time will tell was the right move. Mr. Pett says that when insiders pare back their positions after great news, it could be a sign of either too much hype or, perhaps, prudent asset management.

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SEDAR confirms ownership of 1.8 million shares for Mr. Nemis. If anythign was bad, I think he would have sold a few more..

Posted by BaySt. @ 2007-10-29 10:34

Financial post can't even get their info correct...I would say that this is a slanderous comment made by mister what's his face...

Didn't even get the right person... Nemis didn't sell shares Novak.... You idiot!

Also to make an assumption as to why anyone sold is not reporting, but creating news!

Posted by Dave @ 2007-10-29 11:34

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