Re: Reply to Douger
in response to
by
posted on
Jan 15, 2011 12:02AM
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)
you have some very interesting ideas. However I am not too sure how some of them would translate into a move up in the stock price. For example;
1. Windfall lake is a strange property. As a geo i have seen other like it they are great for moving an earlier stage exploration company but for a company like Noront wouldnt do much. I am not saying windfall is at an early stage im just refering to the type of company that would benefit. The gold is incredibly spotty and it is super hard to turn it into a deposit due to the lack of continuity. Some very impressive results but lack on continuity has made it virtually impossible to ever produce who knows what the future holds but tons and tons of money were already sunk into the project (ie. exploration ramp) and really nothing good. ONe can see that having the windfall property has really done nothing for Eagle hill they are pretty flat nowhere near the 52 week high kinda like Noront is anyway. if anything now we have maintained some sort of interest in the future development if ever there is any without breaking the bank like we did for so many years. What i am saying is if the property hasnt done anything for the company that almost exclusively works it why would it have done anything positive for Noront.
2. In terms of the whole policy on visuals. Noront is perhaps trying to or maybe not get listed on the TSX and on top of that based on what i know from people in industry has had a bit of a shady past and the 43-101 regulations on talking about visuals is kinda weird and you have to be careful when talking about visuals so to minimize that risk its best you just dont talk about visuals. One of the things is as a geo i know that just because its super shiny does not mean that it will run super high so it actually sucks for investors is based on visuals the stock goes up and then the corresponding results dont live up to the hype unless you just want a quick jump and then sell. But overall the whole thing with visuals is kinda weird so its not a bad idea to avoid that practice in fact across industries most respectable companies and especially larger companies dont report visuals regularly unless there are some incredible circumstances like VG. So again not too sure where this would take you.
3. This is exploration as we all saw with the blockade lack of activity results in drop in shareprice so as an explorer it is important to keep on doing something and at the time of the market crash the company was following up some big targets which infact led to the big money hits at Eagle 1 so it was absolutely necessary to keep on trucking had we stopped it may have been way harder to raise money for future drilling like the holes that upped eagle 1 to the 11 or so million ton eagles nest. So again no so sure it woulda been a good idea to stop drilling also considering the huge land package noront has there is a lot of money that needs to be spent every year to keep claims current so crash or no crash work had to be done.
4. is kinda wishful thinking cause i would love to sell my Noront stocks for $20 but no ones buying. Its actually a lot tougher than one thinks to raise money not everyone wants to throw money at a project like Noronts because truthfully as good as it may be its really not all that great and if there are any geos on here that know Ni-Cu-Pge deposits they can back me up on this one. But i suppose yes i will give you this one i imagine your contacts would pay alot more than Wes' ever would so in this regard you are better for Noront.
5. hard to actually justify not spending money on the flagship property especially since its kinda what is in the news and its the reason why anyone ever invested in Noront. Most of us bought into noront and continue to do so on the strength of our known deposit. The properties in mexico and china are grassroots projects there is no real money in them and you dont want to waste money when you should be trying to prove up your deposit. That is just a basic principle in exploration if you asked anyother ceo in the biz even a die hard explorer like richard nemis or john harvey they would tell you the same you prove up what you have if you have something before you go out looking for needles in haystacks. Your 5th point again was very wishful thinking you are assuming that we would find something in mexico and china. So this is a real big "maybe" if china and mexico had something the share price would go up if nothing it would actually plummet because people would be pissed we took resources away from a known entity.
6. Wes hansons salary is perfectly in line with industry he is not being overpayed by anystretch he is the ceo of a 200 million dollar company most guys in charge of something that big would be making more money than him. Also you cannot compare noront to the index because the index spans multiple industries. If you compare Noront to the majority of the ring of fire companies the performance has been roughly the same just super flat to steadily downwards. This is ofcourse apart from PRB but there successes have nothing to do with the ring of fire.
7. this one is just strange cause Wes is not a prisoner to Noront if the guy needs money for whatever reason he can sell whatever he wants this is Canada its a free country and its his hard earned money. Also we seem to forget he was the one buying when the stock was in the 1.40-1.50 range he clearly believed in the company then but when he was buying people on agoracom criticised him for that aswell. You cant really win with us agoracomers. Here your also assuming wes hanson has no expenses or life and can just buy stock whenever the company needs a vote of confidence unfortuneately not everyone has these tremendous amounts of cash you seem to be sitting on.
8. Being on site would mean you would be unavailable to people. Also no CEOs spend time on site that infact does absolutely nothing for the stock price. I imagine if you would be on site you were gonna fire the exploration manager and coo and vp of exploration because your going up to site and doing it all yourself. This is a rediculous notion the ceo of any company has to be available to talk to investors, bankers, lawyers and government and going to all sorts of conferences to generate some sort of interest in the company if you as ceo would sto all that to go to camp you wouldnt be doing your job people would catch wind of that and the stock would again go down.
9. Here you and Noront have had the same idea. And it is a great idea to let people know we as shareholders were let know that there is further nickel copper potential on the land also the benefit of being able to spread cash to that piece of land we were also shown the land relative to the deposit and the geophysics of it in press releases. Good job on this point seems like you must've had this idea earlier and emailed Noront cause they listened.
10. Wes has defintely outlined all of the positives i have been following along. Also he is just outlining some challenges aswell as any responsible person would. In terms of the comparing our grades and such to other producing mines this is something i am glad wes has held off on in one of my earlier posts on agoracom i happened to do just that and showed how unimpressive Eagles nest really is. So in response to this if you went out and started talking about other projects our shareprice would probably just go down. After this post I will repost that information for you to see for yourself.
11. again im glad you emailled this one into Noront earlier because they listened there are a number of jv projects we are involved in i dunno about the success but only time will tell. about the pooling of chromite thing we tried with freewest but cliffs is just too big and powerful and they managed to take that away I imagine if we tried with anyother chromite they would do the same and in the end it would only benefit the shareholders of the other companies.
12. here your assuming thats not what is already happening. I dont think anyone in their right mind wouldn't do that. However it may just be there are no good visuals. For some reason and I as a shareholder am glad to be part of such an optimistic group of shareholders, we have decided that only chunks of solid pentlandite and sperrylite are being pulled out of the ground.
13. unlucky 13 i guess you are right a letter or two would be nice just to let me know whats up ;)
in response to your question to me, i dont think they are either crooks or incompetent this is mining and as a fellow geologist i respect the work of my peers and understand there are tons of challenges associated with exploration and i also understand you cannot find what is not in the ground and maybe at Noront there is nothing else who knows all we can do is keep on doing geology.