43-101 and other stuff
posted on
Aug 07, 2008 01:37PM
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)
Some individuals seem to ask questions more to bring others down, so sew doubt, to denigrate the reputation of those who step out and share their time, DD and opinion and this is wrong, is taking place and needs to be recognized.
Some people obviously only use this board to do their DD. Although this is probably the best board anywhere it is not sufficient for all your DD. It is irresponsible to get others to do your DD. If you have a question, of course ask and many here are great at helping out. That is one reason this board is so good. The other is the great talents that this board has attracted.
I have received a few PMs asking me what is going on with our SP. If our company is so great, why is our SP still tanking...I have responded to each one of them and discussed their concerns but if some long term board members feel this way, I am sure many newbies feel the same anxieties and this may explain the viscious cycle of our SP.
I will repeat the most important thing: Go read the latest NRs!!!!! See why you are invested here. Realized that we are in a bear market with the world's biggest economy on shaky ground. Commodities are not in favour right now. These are all facts. Can Noront swim against this current? YES but you need to know that it is hard to get people to open up their wallets in this economy and moving the price higher, substantially higher and keeping it there will take more than good news from Noront. I will take fantastic news or a change in market sentiment. I believe we have both coming! When??? that is the billion dollar question.
As for the 43-101, what everyone needs to know is that the date is August 18th as per the bottom of the 43-101 resource estimate and as per a few good posters who bother to read them!!! RN has said that he wants it out by the 15th, maybe before if it is ready. So who knows when. One poster a few days ago even said it was possible to get an extention on the 45 days so anything is possible but I still choose to believe Richard and that we will have a 43-101 report on August 15th or before.
One important aspect of this report will be in the section prepared by Prof Jim Mungall, a qualified person under the 43-101 standards. His report will document the Chromium we have found. I do not believe it will discuss tonnage at this point though as some where hoping. It will however talk about the grade we have, the ratios of Chromium to iron, comparative analysis with historical deposits, comparisons in average thickness of chromium beds etc...
Chromium is largely underappreciated in the investment community of North America because of the lack of knowledge out there. This report will try to educate the public as to the value and rarety of our find in the JBL. As such this report will help lay a foundation for proper discussion of this topic by our management which should help our marketing initiatives. Will this by itself increase our SP? In the atmosphere we have, I doubt it. However, like every move Richard makes, it is well calculated, adds an important piece to our puzzle and when the market sentiment turns will help us climb to new highs!!
Cheers to all longs...cause it is not easy being a long these days.
Glorieux