To doubters - Noront is now a blue chip mining stock - rest easy
posted on
Mar 21, 2008 05:36PM
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)
To the 'worry-worts' and doubters and confused 'newbies' - here is a simple analogy (and other info) to explain why Noront is extremely undervalued and absolutely going to be a stupendously successful mining stock. Don't let someone else's negativity dissuade you from 'capturing the prize'. (From an earlier post because it is simpler than reconstructing the argument anew.) After the date of this post, the truth has been proven to be what it is - truth.
Posted by: rodg45 on January 05, 2008 03:15AM
On Thursday I made a post (pasted below) re: the significance of Professor Mungall's assessment of what Noront has found. He made the point, and I simply commented on its significance, that the deposit at Eagle One is one of many. Someone responded afterwards that I was "wearing rose-colored glasses" and went on to basically say that no one could tell what was in the ground without drilling it. I think if you re-read the professor's quote (see below) you will see that he would dispute that assertion. Also, remember that this professor is an associate professor. It stands to reason that he doesn't want to make a fool of himself by saying something absurd, and thus lose any credibility he has with his academic colleagues (not to mention losing the ability to become a full-time tenured professor there at the University of Toronto, or at some other university). I would also like to argue the milk cow theory in defense of the professor's assertions (that there will be more of what is already being found in the area). The milk cow provides cow's milk, not cat's milk, goat milk, kerosene, or candle wax. Cow's milk has readily identifiable properties. It has that 'cow milk' aroma, color, taste, consistency, density, and usages particular to cow's milk. You can make cheddar cheese out of it, but not feta cheese (need a goat for that). Nor can you make lantern or camp stove fuel out of it. Some skeptics might say, just because cow's milk came out of that cow's udder doesn't mean that there is more cow's milk in there - after all, you can't see what's in the cow's udder. Next time you milk it, you might get apple juice or Jack Daniels or some slurry of granodiorite. People like the good professor who actually specializes in MMS (Magmatic Massive Sulphide) deposits (like what Noront is currently drilling at Eagle One) says that what we have is basically 'nickel milk' (with added copper, platinum, palladium, etc.) that has come from a nickel udder, and that where you find some of this 'nickel milk' released from a nickel udder, you will also find more 'nickel milk' in other nearby granodiorite conduits. So, to say that one cannot know what's in the ground until you drill it is to be so skeptical as to say that you don't know if the sun will rise in the east, just because it did so yesterday. If the drills have already been pulling nickel cores out of the ground along the same magnetic anomaly, it is not all of a sudden going to be pulling out flint cores or dolomite cores, etc., anymore than a cow's udder would suddenly start producing Bombay Gin. While it is true that the 'nickel milk' might be more or less rich, it is still going to be 'nickel milk'. That's the way it's been at Norilsk, at Voiseys Bay, at Sudbury, etc. This is also not to say that when you get substantially further away from a nickel deposit you may find magamatic deposits of other metals that came out of solution (like the rich chromium deposits much further to the north-northeast of Eagle One). I urge all those who are having any doubts about the likelihood of substantially more nickel being found to re-read the quote from the professor below. (There was no offense intended in the above analogies toward dairy farmers, dairy cows, cats, distilleries, refineries, candle makers, or cheese makers - as someone once said, "Blessed are the cheesemakers.") Geology Professor's contributionPosted by: rodg45 on January 03, 2008 04:21PM
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