In the "what was it like Dad article", after reading about Virginia Mines and looking at the chart...I had this deja vu feeling.
Virginia Mines was trading at a discount to their cash in the bank. The news releases, the properties they had, it just was such a disconnect...until it all changed.
when I look at the chart of Virginia Mines and compare it to Noront's equally painful and punishing chart (open link below and click on the max chart)..I see a big resemblance.
https://www.google.ca/search?q=noront+resources+stock+chart&rlz=1C1NHXL_enCA721CA721&oq=noront+resources+stock+chart&aqs=chrome.0.0l2.7004j1j7&sourceid=chrome&ie=UTF-8
And this poor Dad sold for $1.50 after enduring so much abuse holding this stock. Notice the 35 cent...look familiar?
"At one point in 1999 the stock was selling for $0.35: a 22% discount to cash. The stock languished at under $1.00 until about 2002, eventually hitting $1.50 in late 2003 (Fig. 2).
After looking at the chart above you are probably expecting, since it’s my tale, that I stayed the trade to the end. I didn't. Seventy-five cents to $1.50 at that time was a big (and rather rare) win after years of pain. I took the profits and bought you some shoes, kid.
Then in 2004, Andre and his team exposed some gold mineralization in trenches at the Eleónore prospect in Quebec. Over the next two years successive drill campaigns showed Eleónore to be a very large, high-grade gold deposit. Goldcorp acquired the deposit for shares, in a deal that equated to ~$13 per VIA share. Goldcorp proceeded to double after the acquisition. VIA shareholders also received half a share for every VIA share in the Newco, Virginia Gold. Virginia Gold was recently acquired by Osisko Royalties (OR) for ~$14.50.
Bear in mind, all this could be had for a price that valued the original Virginia Mines at less than the cash in its treasury.