Re: This is a much more mature forum!
in response to
by
posted on
Apr 06, 2010 06:13PM
I hear you foxtek but to be honest, it is much easier to have a good board when the price is trending up. The biggest problem with Noront' s board is that many newbie investors got into that stock that thought making money on the stock market was easy...I should know, I was one of them a few years ago. The other thing is that Noront is heavily watched by day traders and manipulators and this makes it a hard stock to understand when you try to reconcile the fundamental (fantastic!) and the share price (no comment!).
I believe that with this company, as we keep hitting our milestones, we will see our share price increase. In the next week, Peter Ball has told me we should get the last assays of the Bedard Dyke. If we have another intercept like last time (100.5g/t), this would help our share price again. In mid April, we have the 4th quarter financials which should be quit good as the POG was averaging $1100 vs $960 in the 3rd quarter.
Then we hit May and another update on Lamaque and then we can be pouring gold at any time. Then we look to average 1200t/d for 14 days for the DB covenant. Then we have the 4 months at an average production of 70k ounces per year for another covenant.
All these benchmark are important for the company and hence to our shareprice. As we hit these targets (hopefully on time or better), the company's credibility will increase. We are still getting only about $20 per ounce of gold in the ground when most producers in Quebec average $80 so we still have lots of upside at this point.
Glorieux
PS Thanks for all the thanks but you guys did your own DD and made the plunge into CMM so tap yourselves on the back for a great purchase!!