Dont know if this is old news, but found this on the Financial Post website, part of an interview with Parisotto. The important point here is that he reckons to have about $10m available for possible JVs(probably not enough for takeovers?) with other Cos in the Ring
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PDAC: Ring of Fire slowdown creates opportunities for Noront
Posted: March 02, 2009, 8:00 AM by Drew Hasselback
Blah blah etc then this ----
Even better, he said that the collapse of the junior mining sector is creating consolidation opportunities for Noront. When the company discovered Eagle One, it triggered a massive staking rush in the Ring of Fire. But now, many of those other juniors that staked ground are running out of cash and have stopped work. As a result, the action in the Ring has slowed considerably. Paul Parisotto said:
I think it does create opportunities for us because we’re well-financed and we’ve drawn a lot of attention. Other companies that can’t raise capital or can’t do work creates opportunities for us to look at these companies in the future.
Noront plans to spend $19-million on exploration this year, and will still end the year with about $10-million of allocated working capital. The company is looking for a permanent CEO to replace Nemis, and Parisotto said that progress is being made on that front.
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