Re: Any SPQ.V Investors here??

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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MISFIT1

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Re: Any SPQ.V Investors here??

in response to

Any SPQ.V Investors here??

Lil_RedHourGlass

posted on Sep 21, 2007 02:34PM

I own a small position in SPQ because of the relationship between Novak and Nemis. The one drawback is that while they have sizable land in the area, they only have 30%. Noront is still the best first choice given they have 100% of most of the land around the area.

FNC and PRB (just for you Bravekind) would be my only other two choices given their close proximity to the Noront find. It all depends on which way the ore body ends of going. Those at FWR can tell you that just because you are a 3 iron away from a Bonanza find (Windfall) does not always equate to riches.

Still, if a person feels they cannot afford Noront at $4.37, these other properties seem like a good value. The only reason for that is not that I believe they will produce anything (given their market caps and likely lack of money), but that they will be taken out by either Noront or another. And we all know what takeouts due to share prices ;)

Before you think I am pumping side plays, I want to bring this to your attention. When Noront was sliding 10% today, the side plays slid 10%. When Noront went up, they went up. The question to ask is at this point, will the side plays go up at the same or better percentage rate as Noront in terms of SP. The reason this is important is that a dollar spent on a side play could be invested in Noront, who also has many irons in many other fires. The same could not be said for many of the side plays I dd'd except for maybe FWR with their other properties.

Noront is a very mature junior in that they did the massive PP in 2006 to raise what will be 35+M after warrants. They have some of the best properties in the world for a junior, and they have excellent experienced management who have turned prospective properties into full blown mines over the past 20 years.

OT: The question we will have in 2008 is not which is the best side play, but where can we find the next ARU (2006) or NOT (2007). That is what I am researching with my investment colleagues while I wait out both James Bay and Windfall. (Please do not post your thoughts on here regarding that type of thing). Email me if you have a favorite and I will add it to my DD list and share anything I come up with in the future. Right now my focus is 100% Noront. It has to be given what is going on.