Re: Please correct me if I am wrong - relic
in response to
by
posted on
Sep 14, 2008 02:01PM
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)
From the 43-101, page 36
"...indicating that the potential exists for a multimillion ton resource
comparable in size to the Kemi, Sukinda Valley, or Ipueira-Medrados Deposits."
This is a long way from an indicated asset.
Hey, I want to see this as badly as everyone else. But, we need to be level headed about this.
There is NO doubt that the stock is far undervalued at anything below $5 for what we have seen in E1's 43-101 and Windfall, plus indications of more to come from chrome.
The market hasn't clued in yet. Last year, Noront was screaming from the soapbox that they had an awesome nickelt find, in addition to the gold at Windfall. Now they are talking about a chrome find that is even bigger! Problem is, the public doesn't know what chrome is used for, especially now that most bumpers are plastic (joke).
Give it some time. They are going to be drilling for at least another year just to address the primary targets, never mind all the other potential anomolies. This area is roughly the size of the greater Toronto area, and there are only 10-15 drills poking 1" holes through muskeg and swamps. I think they've done pretty good so far!!