Re: Rumour of Noront doing financing is just that...Quiz

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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seawind

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Re: Rumour of Noront doing financing is just that...Quiz

in response to

Re: Rumour of Noront doing financing is just that...Quiz

quiz

posted on Jan 25, 2008 05:31AM

quiz,

I can't see selling Windfall at this time simply because until a resource is defined there, it would not receive bids that value the property appropriately. (We have lots of excellent assay results but the resource has not been quantified.) My recollection from talks with Mr. Nemis (that have been reported on this board) are that Noront has over $20 million in the bank, and the burn rate is, or will be, about $2.5 million/month. With two more drills coming (March I believe) I would guess that a cash infusion will be needed in the June timeframe to avoid drawing the till too far down.