Some of you are quoting metal prices as if it was reality. Nothing wrong with that on a slow day. Sure the prices are true and real but they are out of context as far as Noront is concerned.
Noront is not a producer so it is not selling any metal. It can not realize any benefit out of these metal prices, at least not for a long while.
When you post a metal price you are posting hope instead of reality.
That metal price only applies to a potential value of the in ground resource.
Note that the potential is in the distant future not today.
Even if you dig out and process that metal ( out of ground) at best you will get
half it's value due to operating costs and taxes etc.
Derate that to today and it is not more than 5% of the in ground value.
Yes at best 5%, because we are still exploring and only with a partial NI43-101.
Some say do not fall in love with a stock. Well imo it is more appropriate to say
do not buy hope as if it was reality. Know the difference between the two.
Rhodium is expensive while nickel is cheap but there is a huge amount of nickel,
copper and chromium but little more than hope of Rhodium and the like. The $ value
per ton of ore that each metal contributes is what matters. The actual metal, what
ever it's name, matters little.
On occasion a new opportunist comes and asks when and if to buy this stock.
Hello?
This stock price is in a hole right now so what are you waiting for?
Still lower price?
Yes it might go lower, no denying of that, but be conscious that there is very
little room left for that lower low and in waiting you have very good odds of
missing the boat.
Relating the known assets and future potential to the share price this stock is as
cheap now as it has been in years, perhaps less.
Do not be penny wise and pound foolish.
If you want your cake and eat it too then instead of going all in or not, go in
partially and wait with the rest for that low LOW. If it does not come then at
least you will have your foot in the door instead of lamenting, could have, should
have.
Note that this is coming from a guy who is saying Could have, Should have, because
I bought earlier not fore seeing the native blockade and the consequences to sp
from it.
I do not lament because I know that the native issue will get solved, sooner or
later. It is the waiting that is hard to take. GLTA here.