one for the weekend
posted on
Dec 10, 2010 10:54PM
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)
This is from Fancamp's post, but there's stuff for NOT.
I would appreciate the more experienced here to describe the legal implications of Grangers new appointment and how it might affect Smith. Is there a new approval process when Smith entertains a deal? Is there a change in accountability?
With Smith's unique property acquisition skill and Granger's skill at increasing Smith's properties, I think we've just increased any existing ore value, due to potential deal negotiation.
An interesting dynamic may occur. Smith is active in seeking out proximity properties but passive in proving them and spending the minimum necessary to make a sale. Most of us have a tough time with his timeline.
Granger believes properties values should be maximized immediately. He believes in passing profit down to shareholders ASAP is the best way to increase interest in Fancamp. To do this Fancamp needs to be engaged in contracts and the little details must not be ignored.
Where at one time we hoped Mac would transfer his FWR momentum to FNC, now we have Granger in an official capacity who can be a check for uncalculated decision making. Again, I see Smith acting responsibly as a CEO to his shareholders by filling in the gaps necessary to get deals made and increase the SP. At the very least, Granger can focus on a property if Smith gets distracted by the allure of a new prospective property, as is his tendency.
Noront could benefit by a Smith’s gravitation towards diverse properties right now. I suspect we will pass them by January and I wouldn’t want to be in Wes’ shoes when that happens.
http://agoracom.com/ir/Fancamp/forums/discussion/topics/456420-to-those-who-drink-alone/messages/1481701#message
Tie the above with the linchpin from this post, and one can assume theory has turned to more than just rumors.
http://agoracom.com/ir/Noront/forums/discussion/topics/456747-something-is-up-1/messages/1482626#message
Judging by the SP chart, Noront’s Wes made the rookie mistake of saying two things a CEO should never say: 1) We are shutting down for the winter, 2) this is a 3 to 5 year property. Ouch! There are other ways to say it, such as: “Assays are returning, and we look forward to utilizing the data to triple our resources in Jan and Feb. We will increase the Stock Price over the duration of proving up our resources until 3 to 5 years from now, when we move to the next phase of development. In the meantime, we will continue to entertain offers for our property should we feel one best benefits our shareholders. One offer we rejected was an offer to buy Noront for 300million as we feel our increased ore will result in more than double our current Market Cap by Feb.” I mean throw the hope a bone.
But we all know Noront will rebound so when to buy again is the current question. Even the land is worth more than the current Market Cap, let alone the ore. One investor I spoke to knows certain big money waiting to jump once they feel Noront's SP has reached a base. I was actually wondering if they were helping it go down. So I'm ready to buy once he tells me they're buying. I don't understand this doom, unless your bummed that you can't exit NOT to get into other plays. GNH is low, FNC has active interests in LacLamalee, CHM is going to double to $4. But Noront is low as well and it will get itself back to 1.30 in a heart beat. Again, Wes said he's confident they can double or triple the ore. When the crew returns they're also going after new targets. I'd say Noront is an exciting buy now or soon if you follow the buy low sell high rule.
Another side benefit of Granger’s appointment is Smith can take a vacation while someone remains at the wheel. It fair that a CEO takes a vacation. But a CEO should not abandon his company while deals are in progress. I feel confident Granger can handle the wheel if Smith needs to have a proper tea break over the holidays. Again very responsible of Smith, and who better to act as chief then someone who knows how to create, negotiate, and modify contracts.
Again, the assumption is a contract is currently being negotiated. I understand Larsen and Smith treat each other well. But having experienced inheritance conflicts before, money changes people and strains relationships. And as I pointed out, there is every chance someone may want to compete for Lac Lamalee, and Smith would be obligated to be responsible first to his shareholders then second to his relationship with Larsen. In other words, things happen, as we witnessed with Cliffs dealings. They waited until Friday night to make an offer with Spider and with Noront. Now we have two heads to handle such emergencies.
I expect Fancamp at $1.00 before Christmas and Granger will shortly be earning his new appointment, if he’s not already.
Great weekend, keep the spirits soulful and go easy on the liver.
-stock greed