HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

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)

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Message: Re: The Chinese won't just throw away money. I'd be concerned...
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Jul 29, 2009 12:16PM
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Jul 29, 2009 12:39PM
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Jul 29, 2009 12:47PM

Re: The Chinese won't just throw away money. I'd be concerned...

posted on Jul 29, 2009 04:55PM

Unless junior mining companies are run a whole bunch different from larger mining companies executive management are rarely involved in actual mining. In fact there are quite a few mining companies that a run by people that couldn’t tell the difference between muck and slag. Don’t get me wrong I think mining companies should be run by people with at least some mining experience but that is a whole different story.

Let’s for argument sake assume that Noront will buck the trend and not only discover and delineate a world class deposit but also decide to mine it. I have a hard time believing that with out a massive influx of experienced personal that they will actually be able to accomplish it. For the following reasons:
1) The most obvious they are a geological exploration company, a lot of the lower level staff, not the ones with their CV’s online are very experience field geologists.

2) The following people have mining experience in bulk underground mining (Granted I really don’t want to spend the time to actually research this so I am assuming that the Noront CV page is actually accurate): John Harvey (with Noranda, I am not sure what president of Exploration does, and I am going to assume that it had something to do with feasibility of deposits). The rest of management from what I can see have either academic experience or experience in selective narrow vein deposits, unfortunately mining isn’t like manufacturing cars you cant just jump from a Toyota to a GM (Note: Development and mining of metals refers to I am going to I didn’t not count Patrick Chance despite going to my Alma Mata) as I do not know what . Now does this really make a difference in the management of a company that is operating a mine; no but they defiantly need some experienced base metal/bulk miners, to set up and run the company and last time I checked they don’t exactly grow on trees.

3) It doesn’t make sense, Noront is a geological exploration company, why not get rich doing what they do best

4) Consolidation in the mining industry

5) Lack of Capital

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