What announcement? The road was the biggie we were waiting for and that's been announced. I sent an email to Noront awhile ago and after ages and ages I got a response. I asked why the stock price did not go up when the road announcement came out. Here is how they responded:
"We were quite happy with the announcement by Premier Wynne as well and like you expected some appreciation in our stock price. We initially saw the price go up, however, it has drifted since then. From a technical standpoint we had a lot of buying activity in May / June when rumours came out of a pending government announcement. Those buyers could have been selling when the actual news came out.
Other than the above, I do not think the market puts a lot of credibility in Government of Ontario Announcements. I believe once we show tangible progress on the road the market will respond accordingly. Next steps on the road are for the project descriptions to be filed (timing should be by year end), Start of the Environmental Assessment (beginning of 2018 Start) and shovels in the ground (2019)."
What I get from this is that they expect a creep up in stock price over the years, a bit with every step on the journey, not a jump like in 2008 when the discovery was made. I always dreamed and hoped for another spike so I can sell and ride off into the sunset but the reality is.... NOT happening.
Tequila