The Three Amigo's..looking from the edge of my seat. First a bit of NOT
posted on
Jan 28, 2009 01:52PM
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)
There's been much talk of NOT since all the reports back from the conference in Vancouver, hats off to all our reporters. I suspect most here are a little put off by the fact that post conference we really know little more now than we did going into the conference, is the BOD to blame or is it our lack of understanding how our current BOD's is dealing with running the NOT train. I beleive that at this point in time of the game at the ROF with the Condors lurking lying in wait looking to take out the Eagles, they are not prepared to go out on a limb and cast freely with lots of Bluesky talk of massive intercepts ( lack of visuals) while the need to be very protective of your play exists in its current state. Yes this does little to furnish the shareholder with confidence. Wonder just what it feels like to walk around with a huge target on your back while a collection of greasy hands are being thrust in front of you left and right trying to sway your judgement, trying to get you to roll over for a quick buck, you can bet your last buck it's happened to them probalbly more than once at this stage. Now then , these guys have, topped up the NOT treasury when times were really tough, reigned in the expenditures and reduced costs and focused on more exploration to expand our known mineralization, and at the same time are laying the foundation to a great future for NOT, this work now being done at NOT camp can only make things run much more efficiently and economically going forward.
It is natural survival instinct to be expecting better of the BOD of a stock you've vested a substantial amount of hard earned money into. Having said that and given the state of sentiment here perhaps theres never a more critical time in the NOT chapter book to effect the formation of a cohesive shareholders group consortium in the interest of personal portfolio safety and in the best interest of NOT going forward.
What say you all?? Time?
The recent action with KWG and CLIFF's is very interesting as KWG are JV with SPQ and FWR. I had a look at past news releases and found an interesting section of a release in regards to percentages and financing for commercial production which i think ties quite well with current affairs.
"MONTREAL, QUEBEC--(March 6, 2008) - Mackenzie I. Watson, President and CEO of Freewest Resources Canada Inc. (TSX VENTURE:FWR) (the "Company") is pleased to provide an exploration update on the Company's activities, currently ongoing on its McFaulds properties (the "Property").
The Property consists of 9 mineral claims situated 3.8 kilometres northeast of the Eagle One and Eagle Two nickel-copper-platinum group element (PGE) occurrences of Noront Resources Ltd. Four (4) of the claims are wholly-owned by Freewest (Freewest claims), while the remaining 5 claims are under option to Spider Resources Inc. and KWG Resources Inc. (Freewest JV claims). Spider and KWG may earn a 50% interest in the 5 claims from Freewest by spending $3,000,000 on exploration over a 4-year period. They may earn a 60% interest by delivering a bankable feasibility study on any mineralization identified and a cumulative 65% interest by arranging project financing for Freewest to place such mineralization into commercial production. The Property is located in the Sachigo greenstone belt, 300 kilometres north of Nakina in the James Bay Lowlands of northern Ontario."
SPQ 43-101 in the works rumored to be ready by PDAC, I beleive this ties in with the CLIFF action. I'am quite confident that going forward CLIFF would be more than happy to provide such financing. It's my guess that KWG and SPQ are well on thier way to earning that 65% interest in those 5 claims.
Could this recent Cliff action be the reason Mac say's he does'nt need to do a 43-101, because he knows already that CLIFF's will be more than happy to take his 4 claims off his hands.
Don't shoot me over this but, I believe we will see the sale of these 4 claims long before we see a sale of NOT, however they will not go cheap, especially if NOT proves up the chromite extension up NNE of Mac's 4 100% claims before the sale.
jmho.