Misfit'2 Morning Musings for December 20th.
posted on
Dec 20, 2007 07:59AM
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,
I see my last post has created some good dialogue. That is a positive thing. This board should never be one-sided and we should always hold each other accountable for what we post.
I wanted to clarify some points in my last message as it appears some believe me to be a doubter in NOT lately.
The intent of my last posting was to encourage everybody in showing that the recent share price of NOT has more to do with the overall market and financial market conditions that anything to do with the company. NOT is still a great investment. If it was not I would not be spending time on here, nor would I continue to keep the picture of the Windfall core up at my place of work.
But I do have one concern that I do see and I call it the "lottery ticket" syndrome. This is the hope that one stock will essentially become the lottery ticket that makes all ones dreams come true.
In one sense this has been true of Noront for those who, like me, were able to hold Noront for the months or years leading up to the Double Eagle announcement in August. I as well as Canseco, Bravekind, Bentonstocks, HertberWiebe, Snezzer, and others were here when the stock had hit its lowest point, that being 29 cents. Like many today, we were here encouraging each other to stick it out and hold, and if possible, cash in their empties and cut their neighbors lawn to buy more shares at .38 cents.
Needless to say, this is a nice payoff.
Was it a lottery ticket? Though that depends on how many shares one has, I would say it was for most because a ten to fifteen bagger is not an everyday occurance.
But I will say that Noront went from being a truly spec stock to an investment stock when the share price went past $3 and IBK began their awareness campaign on behalf of Noront. My point in my last posting was that while Noront will likely hit $10 in 2008, there is no guarantee that it will hit $50. It takes a lot of tonnage to support that type of market cap.
So I did take some money off the table with Noront to invest in what I believe to be companies that have a 3x to 10x potential, just as Noront was when I invested in it last year at .20 cents (my average in August was .63 like many on here.
It is a bit of a gamble as Noront could hit $20 just as fast as it hit $2 a few months ago. But most long term Noront investors know that these things take time and we are all only one trade away from getting back in with profits from other stocks. This is not day trading or trend trading. Just balancing the outlooks of different opportunities and juggling each one against the other.
So yes it is true I sold some Noront and yes it is true I made some profits and I owe some taxes next year because of the spectular performance of the NOT folks this year (it is truly spectacular).
At one point I had all of my eggs in the NOT basket. That was when the stock was at .40 cents. Now I have four baskets, and patiently waiting out each. When one gets full I will find some more, or fill up more of my NOT basket, regardless of whether the price is $4, $6, or $10. A double with NOT is a lot tougher over the next month than a double with three other plays I am following. I always look at the precentages rather than the share price.
But there is one thing I want to mention today that I believe is important for all who are loyal to Noront. The only way to make money on Noront is to eventually sell one day. And when you do, and you have made money, you can consider yourself a wise investor. And the odds are good, especially at $4, that all will make more money going into 2008 with NOT shares.
How much more money is anybody's guess. But like my last post said, and as MustangMan has been sharing, we are in a market lull and these lulls will pass. As much as we all want to see are portfolios wildly increase over the holidays, it is unlikely to happen. But it is likely when we hit the middle of January next year and continue into the Spring.
The key is that each one of us will have to sell some Noront shares at some point, unless of course you plan on keeping them and including giving them to your kids are part of their inheritence. That is what investing is all about. Buying something in the hope it goes up, and selling it for more at a later date.
I am an investor and enjoy making money like most other people. I try to do it as ethically as I can in a market full of snakes, liars, thieves, and bandits. I hope my posts have integrity, and I appreciate the many on here who post with integrity as well.
Like some have said today, this is a good board and it is the useful postings of most that keep us informed and at times confident when portfolio values are saying the opposite.
I will likely own Noront as long as Richard Nemis is at the helm. The percentage of my portfolio that I have invested in Noront will flucuate all of the time as I move money around from one opportunity to another. In the end we are all responsible for our own portfoilios. Just so there is no confusion, the fact I own and hold long Noront shares means I believe in the company. I would be crazy to hold shares otherwise.
I wish everyone on here a very Merry Christmas, especially my old friends from pre-Double Eagle days. This year has exceeded our wildest expectations and Noront has truly become the 2007 stock of the year that we predicted on the SH board last February :)
Misfit1