Saturday October 13th 2007 Financial Post:
"..The stock catapulted from pennies to more than $4 a share, and the big boys, such as CVRD Inco and Xstrata PLC, are already inquiring about the deposit. Noront expects one of them to eventually buy the company.
"They all want to come in and kick the tires. We'll get a big major in there to develop it eventually. This thing is getting bigger and bigger," Mr. Nemis says.
Noront's drilling is still in its early stages: Only a dozen holes have been drilled at the Double Eagle project.
But Jean-Francois Tardif, a fund manager at Sprott Asset Management (a major shareholder), calculated the company has already identified about $2-billion in value under the ground. He also pointed out that some of the drill holes have values of far more than US$1,000 per ton.
"Some mines are profitable at US$15 or US$20 per ton," he says."This would be massively profitable if it was being mined. The grade is just unbelievable." .."
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I have many other mining juniors in portfolio and they don't have anywhere the depth of NOT's hole #5 strikes, or the grade (most have much less grade and about 3-4 meters in total, not 68.3!!):
HIGHLIGHTS
- Hole NOT-07-05 final assay results include; 68.3 meters averaging 5.9% nickel, 3.1% copper, 2.87 g/t platinum, 9.78 g/t palladium, 0.61 g/t gold and 8.5 g/t silver;
- 3 meter section of hole averaged 8.7% nickel, 10.9% copper, 40.79 g/t platinum, 14.57 g/t palladium, 9.39 g/t gold and 8.7 g/t silver
