I'll throw my thoughts/opinions in the ring....
posted on
Sep 01, 2009 08:53PM
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)
Boy I sure give a lot of headspace to Noront. I think today's a good day to post some thoughts...
Wes Hanson: His first crack at a CEO job. He's got a lot to prove. This company was littered with leaks, loose lips, and had many fundamental problems - pre and post proxy. (I don't think its common practice for any CEO to say 'hold onto your shares') He very clearly stated his line about info for all, all at the same time. Let's face it, yes, some will know info before all - but I believe Hanson is cleaning this up. Can you imagine in your first 2 months on the job the SEC calls you and asks if there has been any material change and you have to send out a news release saying no???! Holy smokes...get a few more of those calls and you know whats next, and it's not good. There are many major companies that conceal news releases before they go public with it. I think Noront will be at the level sooner rather than later. I've heard that some sources of info for this company have dried up - I concur.
Stock Manipulation - Perhaps I am completely off base on this but I cannot imagine that the stock is 'manipulated' on a daily basis. I see it as plain old supply and demand. (with some exceptions of course)
Inside Information - I went to a university that had a respected business program - I have several close friends who work at many of the financial institutions listed here on a daily basis, as well as investment houses and mining companies. I'm the guy that's in everyones wedding party. I'm also the guy that people would tell where they buried the body and NEVER has anyone of my pals at a public company divulged private corporate information, EVER. If I were to ask they would look at me like I have 3 heads. There is a large degree of professionalism that exists (in my opinion) and I don't think people are interested on putting their jobs on the line to make a quick buck. If they did, they better go for the gusto and get the hell out of dodge because they just may never work again if they were to get caught.
Noront in the Market - I think that by visiting this hub every day that we lose sight of just how many people know about this incredible find (sorry, but I'm pretty bloody sure the goods are in the ground). Have you ever asked anybody if they've heard of Noront? My guess is the answer would be no. Sure, the smart money should know about it but at last count there are only 3 significant players that have done their DD and they are buying-in large. And heck, retail makes up 40% of the market cap. A good PR run by Wes touting that we may have discovered the next major mining district and the people will come. In fact, Im pretty sure the shareholders on this hub trip over each other on the way in and out of the exits!
Our new management team and directors - I've made some calls and from what I gather we should be pretty thankful and proud for who we have working for us. Compare our team to any other junior or prospective mining company in Canada. Okay, I haven't exactly done that but I have a feeling that not many stack up close to ours. My contact at Barrick was surprised/impressed to learn that Blasutti and Davidson were on the board. Hanson's first job was to put together his team and I think if this is indicative of what he can do - we could be in good hands.
The Share Price - I've bought all the way up, and all the way down and threw in the Flow Through Shares to spice it up. Nothing significant has changed as much as the stock price since the release of Hole 49. Obviously there was a monster leak on that one - I don't think that will happen again. I for one am putting my faith in management to turn this cold, buggy swamp in the middle of nowhere into a $2 billion piece of property - and I don't expect them to do it overnight either. If this land were located in Muskoka for example, I might have higher expectations in the short term and hope they just sell it off for a golf course or something.
This Hub - Love it. Definitely sometimes reminds me of Bill and Teds Excellent Adventure's scene when the jock gets on the stage and yells, 'San Demas High School Rules!!' and the crowd goes absolutely wild in supporting him even though he said basically nothing. I like the debates and would encourage the con and pro opinions a bit more.
The Golf Tournament - Looking forward to shanking my drives onto opposite fairways and in the deep woods. Should be great to meet NOT shareholders and also be fun for others to read about it on the hub. The next two weeks should determine whether we will be drinking fine scotch or just a water please - either way I'm good because I have made my Noront bed with care and I'm going to lie in it.
Opinions vs Facts - These are my opinions and thoughts. You don't know me, I don't know you- that's the fun part. This board is a source of entertainment and I'm pretty sure that's all it's designed for. Please feel free to comment on my thoughts, that's what they are there for.
I've got some more but save them for some other time.....
Bmack