My email to R. Nemis on Friday Jan 18, 2008
posted on
Jan 20, 2008 10:32AM
We are attempting to deliver sufficient drill holes to engineering so that they might start the 43-101 process to determine a resource figure. Each hole that hits thereafter will add to this first pass resources since the deposit remains open and as long as it does, we will continue to drill it. I cannot comment on tonnages however at this time. Additional drilling will also commence shortly on outside targets beginning with those within 5 km of the Eagle 1 discovery. Best of LuckR. Nemis
Subject: RE: Tonnage estimations at Double Eagle 1
Hi there,
I'm a shareholder and have a simple question that may not have a simple answer but here goes:
What tonnage estimate do we have at DE1 right now and what tonnage would we need to start a mine? I understand we've heard 7 million tons estimate a few weeks ago, but then I also heard a rumour it was only 2 million tons. As the drilling has not apparently brought us to submitting for the 43-101 I understand if the estimate may in fact be low once the 43-101 is completed.
What I have heard is 10 million tons will likely get a mine started. If so could we in fact see the 10 million tons by the date of submission of the 43-101 report? If 10 million tons doesn't get a mine going then that should stop one rumour in its tracks.
Just a clarification from management would be most appreciated.
Off topic I also understand the assays have been held up significantly. I also own Sage shares and their assays are also slow in coming. I expect its also the fact that we just passed the holiday season. Looking at what Kodiak resources went through after a halt this last week, I most heartily agree with Noront management's more stealthy release of news. The halt's seem only to work with earth shattering news either positive or negative. Congratulations on a job well done. One of my largest reasons why I hold Noront shares is the quality of management as well as the potential in the company future growth. Happy New Year.
All the best in 2008. I'm sure we have the find of the century here. Patience is all we need to reap its rewards. Have a wonderful weekend.
