Re: Control
in response to
by
posted on
Jan 28, 2009 04:57AM
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)
Hoov, you are right why worry, what happens, happens. However, I do believe our new BOD not unlike our old BOD under Richard's helm, aren't in this for a buyout in the $3-5 range. Noront's in the ground proven resources are already +$3 at McFauld's Lake alone, not counting Windfall or cash in the bank. A Buyin for 10% might make sense but is not needed now or anytime soon.
The new Board's decision to cut the burn rate, shelve Windfall (for the time being) and concentrate on McFauld's lake by drilling as many targets as possible and buildup infastructure.
Slow return on assays could be normal (for whatever reason) or by design. Even going back to last year under Richards' watch we experienced extremely long returns on results, one in particular where the blame was put on to the Lab itself. Maybe, maybe not, who knows. Just possibly management (BOD) knows exactly what we have or at least a real good idea and they deem it more important to drill and prove up more value and get the company into a better position for negotiations down the road rather than be tabled with a buyin or buyout now. Other matters also include new CEO, TSX listing and maybe new JV's. All of these give them a better position at the bargaining table.
Therefore, my take on the reasoning for slow assays could be a positive sign for us however frustrating. JMHO
Other views appreciated!
Justduke