I am hanging in since September 2006. Its been hard but please remember the quote below:
On September 4, 2012, Noront released the results of its Eagle’s Nest Feasibility Study. It is currently being updated after a construction ready estimate was completed by our preferred mine contractors.
The discounted cash flow (DCF) for the Project, based on assumed metal prices from the 2012 Feasibility Study indicates the following:
- Initial project capital requirement of $609 million;
- Sustaining capital requirement of $160 million;
- After-tax net present value (NPV) at an 8% discount rate of $543 million;
- After-tax Internal Rate of Return (IRR) exceeding 28%;
- Estimated operating costs (including road access fees) of $97 per tonne; and
- Capital payback period of under 3 years, based on a 100% equity Project.
So in my mind with < 5% of their resources, Noront is already worth 5 times what we are trading right now.(once we get a road ;-) )