I have respect for John Embry, Sprott's Chief Investment Strategist. I eagerly read all that he has to say.
"I think the thing (silver) has been abused on the downside and it’s just like a coiled spring ready to explode. I think silver will go back to those highs we saw before that May raid faster than most people can imagine."
Silver, is not the only "thing" that has been abused on the downside...Noront has. . Something coveted gets abused on the downside. Noront, too, looks like a coiled spring ready to explode.
....Sprott Asset Management is listed as one Noront's major shareholders.
They too see the coiled spring that we see.
In the link to the article above, John Embry, Chief Investment Strategist at $9 billion strong Sprott Asset Management. When asked where he sees things right now Embry stated......
I follow him because he is brilliant and also because Sprott Asset Management is listed as a major Shareholder of Noront.
Here is the link to his recent words as found on Jim Sinclair's website.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/13_Embry_-_Mining_Shares_Will_Be_Like_Internet_Stocks_in_the_90s.html
"When asked about the mining shares specifically Embry had this to say, “Well they haven’t moved up a lot with gold and silver, I mean they’ve been sort of wallowing a bit. We’re not talking about a trillion dollars worth of paper (total value of all mining companies), and consequently if money decides it has to come into this space, it’s going to be like internet stocks in the ’90’s except they (mining stocks) are going to have real fundamentals.”
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I love that expression , " mining shares......wallowing a bit."
I think about Noront's 2,500,000 million ounces of precious metals along with all the other deposits and wait patiently for our day to come.
In the case of Noront we will have a double source of upward pressure when money decides to come into this space.
(1) Noront has the goods and the land position.
It's an understatement to say the share price has been "wallowing."
(2) The infrastructure news, realization and promotion will be a force to reckon with.
