Thanks Sum$all,
I didn't mean to take a leak on the parade going on today. I have had these thoughts since the first chrome story broke awhile back. After trying to find some info about this new resource, I came upon some interesting info that helped me to temper my own enthusiasm. If I am wrong, then I still win as I am long on this stock. What I was preparing myself for was what we saw today, market indifference.
My goal today was to stimulate conversation. I knew I would take a few shots as I should. I remember when DE1 news first broke. After every NR we would spend hours trying to find out how much was really there. Graphs were made. Calculations postured. A lot of good input trying to establish value.
When I saw the ten figure $$ figures thrown around today regarding the chrome, I wanted to ensure that people looked at this from every angle. I have no purpose to bash this stock as it does not help me financially. I have never shorted a stock and never will. But I have learned that upbridled optimism can lead to unrealistic expectations. And disappointment.
My posting today started a discussion which I hope continues. Some excellent posts have been made talking about what essentialy will set Noront apart from their competition. This is valuable information and even I am learning. My only point in my musing is that when one looks just at supply and demand, the world has enough reserves of chromium to last 200 years at the current consumption rate of 8 million tonnes per year. The question I posed is starting to be researched and answered by some on here and that is what will set Noront apart from these other deep pocket companies?
What I did not say is that the chrome Noront mines will be unprofitable. It just has to be more appealing to the buyers than the other guys. If the buyer is in Hamilton or Detroit, it will be very appealing. If in China, I am not sure yet. Is the cost of getting the ore from McFaulds to Vancouver and then by ship to China equal, more, or less than the same cost of getting it to China from Belarus, South Africa, or India? I do not know, but the question should be asked as ore itself will not make us money until it is in the hands of the buyer.
I have enjoyed the rebuttals and want all to know that I hope that Noront will come out ahead in the chrome game. We are already ahead in the Gold and Nickel game so what we heard today is a bonus.
Trying to keep it real,
M1.