Hi Sudbary,
My post was in reply to sidethree
The full title of his post was is bolded below. This is what I am comparing Noront to, not today's value of Voisey.
Re: we are currently 1/3 r 1/2 of voiseys This report was from 1995 Northern Miner
Please note that we are comparing Noront to Diamond Fields in 1995 not to today's Voisey deposit
posted on Nov 20, 09 08:30PM
Excellent Post Sidethree!!
"At last report, the main ovoid deposit at Voisey’s Bay contained preliminary minable reserves of 31.7 million tonnes grading 2.83% nickel, 1.68% copper and 0.12% cobalt at a total stripping ratio of 0.36-to-1. The project also hosts a large tonnage of lower-grade reserves, and ongoing drilling is adding to the potential of the Eastern Deeps zone"....
I had posted.
In March of 1995 Teck Corporation aquired 10% of Diamond Fields Resources for 108 million. That tells us the market cap at the time was 1,080,000,000
Our current market cap is 2.29 x 173,461,957=397,227,881.
Does the comparative market cap of Diamond Fields and Noront Resources make sense?
FWR is currently valued at 55 cents. All we have seen is chromium. Allow a price factor for the Noront Chromite, don't forget Probe has found some excellent grade of chromite and Noront and Probe have a 50/50 JV. Remove an estimated amount from the 2.29 to take out Noront's chromite. Remove the amounts for precious metals too. What is left of the 2.29? Then consider again that the metal prices are higher now than they were in 1995.
My point was that when I look at what Diamond Fields discovered in 1995 which did not have any PGE's, Vandiaum, Chromium etc. and I take a look at what we have today in NORONT our current value does not make sense based on the value given to Diamond fields in 1995. If I take the 31.7 million tonnes that Diamond Fields had at the time and compare to our 10-15 million then we are 1/3-1/2 based on this. Our Market cap is approx 1/3 of what Diamond Fields was BUT are the metal prices valued the same as in 1995. (no). IS the PGE's, Vanadium , Chromium, etc etc. Worthless and therefore not factored in??
