in response toby
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)
In answer to your question about why the share price is so low, I suggest look around at the junior miners share prices today and even Canadian Seniors like Hudbay.(look at what an activist did to Hudbay recently)
Tell me what you see. Can you see just one of them with excellent properties trading at a reasonable value?
How about going back in time for a history lesson.
How about Paladin Energy at ONE PENNY with around 220 million outstanding shares back in the 2002-2003 era.
You'll recall the horrible metal bear times from 1998 to 2003 where all the good commodity stocks were slaughtered. (Remember my post with the Kitco link?).
How would you have felt if you were a Paladin Energy shareholder back then?
If you had done some research and looked at factors outside of the price, perhaps you would have bought this stock. But chances are you would have been scared off by the negative noise that was overpowering and that horrible one penny a share price.
Rick Rule invested heavily.
A great piece to read.
“It was the single most important financial event of my career.”
That’s what my friend Rick Rule of Sprott Global recently told me of his experience in the uranium market.
Rick was referring to Paladin Energy, a uranium company that leaped from one penny to $10 per share during uranium’s last bull market. That’s a 1,000-fold increase.
In other words, a $1,000 investment could have exploded into $1 million.
Even the worst-performing companies in the uranium sector delivered 20-to-1 returns.
So think about the above for a minute. If Paladin Energy was trading at 1 penny ..and it had 220 million outstanding shares...what was the market cap?
Answer : 2.2 million dollars.
And what would you deem a life changing investment? How about buying 5% of the company back then?
It would have cost you $110,000.
So, if the market cap was ONLY 2.2 million and Rick Rule calls this stock his SINGLE MOST IMPORTANT Financial Event..How much did he invest????
So do some research and go on ASX and start looking an annual reports of 2002, 2003 ..when the share price hit the 1 penny and 1.5 pennies.
How about this Paladin Energy 2003 annual report....let's see who the top 20 shareholders were then.
Here's a link to their reports and you'll find the 2003 archived.
One you find the 2003 report and open it, look at page 25 & 26.
any sign of Rick Rule? Sprott? NOPE
But, this list accounts for the top 20 shareholders but represents only 70% of the shareholders.
So what you could do is open a bunch of companies offshore and make sure you have less than half a percent in each company so you don't appear in the top 20.
Interesting shareholder names draw people in. But if you want to pick up shares on the cheap.........
So, rico, after reading the 2003 annual report would you have had the guts to buy at a penny a share?
My suggestion, focus on what Noront has. Focus on the Push to help alleviate First Nation Poverty with opportunities.., the fact that a company like Hatch is partnered, the continued support of RCF and Baosteel, EV revolution(the demand from TESLA for responsible raw materials to start!), climate change, responsible steel, Responsible investing push (PRI), infrastructure spending, events taking place in south Africa, Increased defence spending, & not to forget...make my country great.. first...
and then decide what to do. And of course, don't forget to study some history.