Re: Options, BOD & Wes?
in response to
by
posted on
Jul 22, 2012 09:52PM
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)
"other facts are .We all knew that Noront would never take this company to production all by itself"
I do not know by what you mean by ALL, If you mean all on this forum then that statment is false BECAUSE I do not know that to be true. In fact I am inclined to argue the opposite.
The only facts that I know and relevant to me is that a mine with pipe and road transportation of the ore from Eagle would cost about a billion $s. That feasability study was not a pipe dream. Eagle in the ground is worth about 12 billion, give or take one.
Who would not spent one to collect 12? Ok so it is 12 in ground and the clear profit is probobly on the order of 6 so it is 1 to get 6 clear. Looks like pretty good numbers to go alone if I ever saw any.
The north-south route just makes things easier but is not necessary for Noront to go alone.
Good evening Edgy,
Without disputing any of your assertions let me just say that it is easier to have
a higher share price during exploration- discovery phase- when sky might be the limit,
than during mine building stage when countless problems can crop up without warning.
Such are, but not limited to, cost overruns,inaction on part of different levels of
goverment,unhappy First Nations,prolonged deep recession (or worse)or extreme
risk aversion by large investors.Believe these are but few of obstacles that Noront
could face as it nears SHOW ME PHASE. In the last year or so i came to somewhat
painful,unpleasant realization that our beloved Noront will be taken out before
having chance to realize it's full potencial.I know that good majority on this forum,
myself included, will feel unhappy and have feeling of being robbed.
Having expressed my feeling i sencerely hope for entirely different outcome.
GLTA,
Fossil