I have been an investor in Noront since the Windfall days. I have always been very suspicious about the activities surrounding the optioning off of the Windfall properties by Noront, Freewest and Murgor. I am still a believer in the property and have purchased shares in Eagle Hill. As part of my DD, I did come accross some interesting info; which I think is quite relavent to Noront shareholders.
This is a summary of the sequence of events as they unfolded....from my perspective..
-- Noront hits bonanza grade gold at Windfall (52 oz/ton)
-- Noront is granted options on FWR and MRG nearby properties, then proceeds with plans to build a ramp down through some areas with high prospects
-- during the process of building the ramp; Noront encounters several visable gold occurances
-- Freewest and Murgor announce bulk sample assay results for areas passed through in the building of the ramp
-- as they approach the area where Noront hit the bonanza grade gold, there is a proxy battle for control of Noront
-- shortly after the Noront board is overthrown, Noront options off the Windfall property to Eagle Hill without giving any assay results from the Windfall property
-- soon afterwards, Freewest and Murgor announce that they too have optioned off their property to Eagle Hill
-- soon after, RN and JH are appointed directors of Eagle Hill and Mac Watson becomes a member of their advisory committee; Murgor heads the exploration and generates cash flow with a bonus formula
No longer do we hear the terms F11 or F17 zones....or the infamous NOT-06-100 area...and what ever happened to hole NOT-07-075, where we hit 143,3 g/t over 3.11 meters on March 18, 2008. Why does Eagle Hill not show these two remarkable holes on their map or list of assay results?
What I did find today was an interesting presentation by the CEO of Eagle Hill given at the Global Mining Investor conference in late September. It's certainly worth a listen. In particular, I would like to highlight two sections of his speach.
1) at the 8:45 mark note the following...the intention of the ramp was to
-- find the mineralization
-- do more exploration underground
-- do bulk sampling
....and then he quickly changed the topic....no more talk about the ramp....until
2) at the 16:30 mark
-- discussed the two phase 10,000 meter drill program in January; and in the meantime, the ore from the ramp has not been sampled; we'll be doing some assaying on that
That is worth a repeat....the ore from the ramp has not been sampled
What are we to conclude from all this?