Re: Low trade even with news

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

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MISFIT1

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Re: Low trade even with news

in response to

Low trade even with news

Gerwin

posted on Nov 06, 2007 09:34AM

"Can someone explain why BM* and SP* trade 20M / 4.4M and NOT with two great news releases only trades 1.4M ? I would have expected that trading in NOT should have been increased and not in the others."

This is actually good news. What it shows is that the impact of the warrants is diminishing. When Noront first announced the find at Double Eagle, there were 30 million warrants oustanding at a strike price of .75. This allowed shorters to short knowing they could cover with the warrants they held. I would have to do some calculations (due to stock options being factored in) but I believe the amount of warrants remaining is between 1 and 2 million.

You are correct in stating the the two NRs should have generated some excitement. I take solice in knowing that most of those who hold the 117M shares are holding today. With just under 1.5M share traded so far today, Noront has proven itself to be in much stronger hands than a few months ago.