A positive post
posted on
Dec 13, 2010 09:43PM
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)
When people talk about the share price and value in the ground, they talk only of eagle's nest. Add to that eagle two, blackbirds 1 and 2, JJJ, AT-12, vanadium titanium, blackstone, the additional resource through the extension by two hundred meters and updated infill drilling results; not to mention that nickel has broke $11.00, copper is at an all time high at about $4.20, PT at over $1,700 and Pd over $750 and Au firmly testing $1,400 again.
Every time people talk about the development of the chrome in the ring of fire, they assume Cliff's chrome will be produced. Don't count out Noront yet. Their chrome in the latest drill results was quite impressive in the 44-46% range.....with Pt and Pd credits as well....all in the vicinity of the eagle's nest.
The share price has slid almost daily since the latest news release as many focus on the fact that the deep drilling has been abandond and it's been suggested that they may not go back to deep drilling for the next six years. However, there is compelling evidence that the deposit continues to be open at depth and to the south. Furthermore, there are some nuggets of great news in that latest release that has been largely ignored.....
-- the JJJ gold deposit is extended by 500 meters
-- the Pt and Pd grades get better at depth; the latest results display the longest interval of massive sulphides with an average of 1.30 g/t Pt and 4.12 g/t Pd over 203 meters....that is insane...that's on top of the 1.69% Ni and 1.01 % Cu....don't forget, this hole extends the deposit by another 200 meters and is the longest and deepest intercept to date
-- rich veins of Pt and Pd are being discovered in the vicinity of eagle's nest at 11.2 g/t and 25.1 g/t respectively over .4 meters....that is crazy rich...and includes 2.08% Cu and 2.42 g/t Au....very impressive
-- AT-12 has been talked about being a larger lower grade deposit; and with the stand alone economics of the eagles nest being favorable, this increases the economics of lower grade deposits such as AT-12 (the cost of the infrastructure will be absorbed by the eagle's nest production)
-- only two holes were drilled with respect to the vanadium/titanium deposit....both show good grades over long intervals....and as FWR proved up a large resource with few holes at black thor, I believe this could be the case for this deposit as well
In summary, it certainly is fustrating with all the potential here to watch the share price go down....and there certainly is some lost opportunity costs here as well as we watch many other stocks hit record highs. But, I'm still a firm believer in the huge potential this has to offer....and for that reason I continue to add to my position.
Good luck to all....I hope this is the bottom