The Smart Investor

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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CMP

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The Smart Investor

posted on Jul 09, 2008 11:15AM

Anybody else feel kind of stupid they didn't sell at seven bucks? Read my posts, I am a professed long on this stock plus I own FNC. But I sure wish I had sold last month so I could have bought triple back today. Hindsight is 20/20. I am at the age where I have dollar store glasses all over the house and Cabin so I can read. I am not alone. However, my shortcomings in my investment prowess is only on these timing issues and not on the investment itself. It kills me the stock is where it is and that I didn't capitolize on the rise and fall. However, I am lucky enough that I realize my limitations and understand mining somewhat and did some due dilligence. I have always been fearful of the 43-101. Sad that it is early in the developement stage of the area, and sadder still that it disappointed the market like it did.

The facts of our due dilligence were not changed with this resource allocation. I won't repeat the details of the 43-101 but I will remind everyone of the overall assets of this company. Noront controls a huge portion of the ROF that has a widespread geological signature and unique to our part of the world. We have explored a very small portion of this vast landmass that appears to follow a corridor of over a hundred kms of MMS and VMS occurences. The mineralization is fairly diverse with different concentrations in different regions. Not only I bought into this real and tangible scenario. Some pretty big and savvy investors put major amounts into it and at double the prices that exist today. Sort of makes feel a little better about my IQ.

So people got out for their various reasons. In this age of instantaneous gratification and the technolgical wherewithall to buy/sell/hedge/short/manipulate/pump... at the stroke of a key, people can develope skills and make carreers at milking the market. But they can't change the geology of McFaulds. They can't change the ownership and the JV agreements already in place. They can't change the grades at Windfall. They can't change the management team that we all thought was phenomenal two weeks ago. That's what my DD is telling me.