Here Is The Stock That Will Make Us Rich

[lor]

Below is a side article in the Mining Markets Mag included within the current issue of Northern Miner.


Add Chromite to the McFauld’s mix page 14. Mining Markets Sept. 2008


"Ever since Noront Resources (NOT-v) discovered high grade nickel at its Double Eagle project last September, most of the speculation about the area’s mineral potential has focused on nickel copper deposits similar to those being mined at Voisey’s Bay in Labrador.

But the area’s potential to host economic chromite deposits may be equally important. In late May, Noront announced that it had discovered a thick layer of massive chromite (rock composed largely of the mineral chromite) lying about 30-50 metres beneath the Eagle Two copper-nickel deposit. The steeply dipping layer, now called “Blackbird” One to differentiate it from the “Eagle” nickel-copper depositis, was traced by drilling from near surface to depths of up to 400 metres at widths of up to 69 metres. One intersection returned 50 metres average 39% Cr2)3.

The find is significant because not only are the grades comparable to those being mined in South Africa’s Bushveld Complex, which holds about 70% of the world’s total chrome reserves, but the widths appear to be thicker. In the Bushweld, the majority of deposits lie in two main layers, 0.6 to 1.3 metres thick. At Blackbird One, the seams vary from a few centimeters to more than 20 metres in true thickness.

Overall, the Bushveld Complex contains more than 1 billion tones of reserves grading 42-45% Cr2O3.

The only known Canadian chromite deposits are the Bird River Sill deposits in Manitboa, which mainly occur within a 3-metre layer and are too low a grade ( 21% Cr2O3) to be considered economic.

Chromite is used to make ferrochrome used in stainless steel. It would be an understatement to say that the economics of the ferrochrome market are robust. Chrome exports to China more than doubled to almost 1 million tones in 2006 and forecasts show Chinese stainless steel demand growing by 7-10% per year to 2020. Prices have increased several fold from US. 0.63 lb in early 2006, to US 5.50 per lb. recently for extra-low carbon ferrochrome.

An important consideration when evaluating chromite deposits is the ratio of chrome to iron. Ideally, the chrome-to-iron ratio should be at least 1.5 to produce ferrochrome. At Blackbird One, chrome-to-iron ratios average 1.7 compared to about 1.9 in the Bushveld and 1.4 at Bird River."
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[lor]

Rumour has it, NOT hit gold on their anomoly besides the UC claim. The attack on the SP today is not confirming this rumour. Time will tell

 

[lor]

Noront Management conversation...

Posted by: Canseco on September 08, 2008 03:30PM

I asked, "How good is our Chromite discovery?"


Answer, "Exceptional". Why? The thickness of the intercepts. The grades are equal to, or, superior to, the deposits currently being mined world wide. Many of the others "pale in comparison". The Chrome to iron ratio is superior as well. The overall size of the deposit is large and growing as they continue to drill. They are now down to 700 metres and still in Chrome, and sulphides. This lends credence to Roos 2000's comment today,
"also double eagle II being a monster on lower grades came from a good source."


Something that I had not heard before, is that Noront is finding the chrome to be a very useful "geological tool" to assit in tracking down the nickel/copper/pge motherlode.....hence the drilling continuing at depth.
All the above, is particularly meaningful in my opinion, due to the tone in which it was delivered, and the reputation of the speaker.
Another item is that Noront representatives are currently at the Denver Gold Conference. One of the reasons they are there, is because they were asked to attend, by a group they encountered on the summer road trip.


Holding with confidence, Canseco

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Monday morning thoughts from TC</TD><TD align=right>

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Good morning. Overseas the major Asian/Pacific indices were all up overnight in the 3% to 4 % range. The US rescue of Fannie and Freddie has lit a fuse under financial stocks, as fears in the credit markets eased. In Europe the major indices are also up sharply, but volatile, as many investors realize the euphoria over the US bailout probably won't last. The bailout was a bandaid solution, a temporary fix that was inevitable, but it really doesn't solve the problem. However, the banking stocks are Europe's best performing sector. The $US fell against the $Euro overnight, causing higher metal prices, which has given a boost to mining stocks. Hurricane Ike, has caused a spike in oil prices, giving energy stocks a boost in Europe also. The defensive stocks such as the drugmakers, are Europe's weakest performing sector. All and all, its a broad based rally in the overseas indices, a welcome respite after last week's bloodbath. One has to wonder, just how long the rally in the world equity markets will last, once the initial euphoria of the US bailout wanes. The early futures numbers are predicting a big rally in the US indices today, with the the DOW futures up 252 points as I type. On the economic calendar for today we have the Consumer Credit numbers at 3 pm. All eyes will be on the price of oil today, with hurricane Ike being the big story over the next few days. IF the $US stays weak today, it should be a good day for the Canadian indices, with leadership from the commodity stocks, topped off with strength in the banking stocks.

Back in McFaulds Lake, having last weeks bloodbath in commodity stocks behind us, is a sigh of relief. Actually many of the McFaulds stocks held up very well, all things considered. NOT's share price was down only $.10 for the week and the uptick in volume, was a welcome sign as the traditional slow months, of July and August, are now behind us.

On the chart for NOT, we have support at $2.29 and resistance at $2.83 to start the week. NOT needs to pop through the resistance of it's 13(MA) at $2.69, then break atop its 50(MA) at $2.88, which shouldn't be a huge problem. A clean break atop the 50(MA) and a close above $2.88, would turn the 50(MA) into support. This would convince me the downtrend has been broken and a new uptrend has finally arrived. You have to go all the way back to early April to see NOT trading and close above its 50(MA), as this is when the downtrend started. So the 50(MA) is a very important resistance point to cross atop of, if NOT is going to have legs and get it's share price righted.

Last week many where expecting news from NOT, of course with the meltdown in the equity markets, it is just as well they didn't release news, as it would probably have been lost in the bloodbath anyways. Hopefully news arrives early this week, possibly today. News from assays from the AT-12 anomoly discovery, certainly has many investors that follow NOT very excited. Any assay news that includes nickel over the 2% mark, should give NOT's share price a very nice pop, is my opinion on AT-12. The rumour mill had the 4th hole drilled at AT-12 coming up with core samples that looked like Hole #5 from the Eagle One discovery. Any assay values that come back, anything remotely close to the kind of numbers we seen from Hole #5 and we would see the kind of euphoria we had last year at this time, with NOT's share price. It is very doubtful we ever see those kinds of assay values again in McFaulds Lake, so best to contain the enthusiasm of any thoughts like that. That has always been the one problem I have seen for NOT, they raised the bar pretty high with the Eagle One discovery assay values.

Also last week, I heard rumblings that NOT may have another discovery from one of their drill programs. I still have no confirmation that this rumour is indeed fact, but perhaps we will get an update if we get news from NOT, on one of their expected news releases this week. With so much on its plate right now, there are so many variables of possible news releases from NOT. Even in a weak market for junior mining stocks, it is my opinion that NOT is one of the most undervalued stocks on the TSX-v currently. At some point Bay St will wake up and put a valuation on the chrome discoveries of NOT. From the assay values and the huge intercepts already reported, it is obvious when comparing NOT's numbers with mines already in production, that these chrome discoveries are world class. It is hard for me to understand why NOT is getting no valuation for these kinds of chrome numbers, perhaps Bay St needs a 43-101 to become believers. Whatever the reason, when Bay St finally does wake up, the current share price of NOT, will look like the bargain of the decade. JMHO

FNC took a big hit to its share price last week, from the market meltdown. FNC was down over 22% as investors were in no mood for speculative stocks, with drill programs. Hole #3 should now be finished and the last hole should be underway by now. It is expected that the 4 hole drilling program will be completed sometime this week. It will most likely be early next week, before Peter Smith goes over all the data and releases a visual update, via a news release. Watch the share price closely today for possible hints on what they found in the 3rd hole. These things have a way of getting leaked and somebody in the know will get an early jump on the majority of the retail investors. With over 300k of shorts still on FNC, it could get real interesting fast, if they found something of significance over the weekend. I also wouldn't be surprised to see a share price flush, early this week. At some point the shorts will want to cover, so expect some manipulation and high volume from the pro's, on the downside. The shorters know that without a news update from FNC, they can take this low volume trader and do what they want with it. With some accelerated selling they can have the retail investors in panic mode pretty fast. If this does happen, it could create some bargain shopping for those with dry powder waiting for the opportunity. However, FNC still needs to find something of significance, or the bargain basement share prices from a flush, could get a whole lot cheaper if FNC misses on this drill program. At this point FNC is nothing more than a lottery ticket, so don't risk more money on this stock than you are prepared to lose, is my best advice. The risks are high but the rewards are even higher, if FNC finds the motherlode, like many are predicting. Best of luck to everyone still in this play.

MTX/WSR, could this finally be the week for the assays from this play? We have an interesting situation here, WSR has their AGM on Wednesday, this week in Toronto. So I would assume, if there was an ideal time to release assays, it would be just before their AGM. Remember, WSR hit a huge intersect of 131.9 M of Semi-Massive to Near-Massive Sulphides in June. They had visuals of copper and other base metals in the core samples. So there is definite possibilities that WSR could come up big, on their assays. The risk/reward looks very good for those looking for a lottery ticket. Also it should be noted if WSR does come up with something of significance, the area plays with the most to gain would be BMK, DSP, MKR and TME.

It appears at this time, the above mentioned stocks are the the ones most likely to be in play this week. All investors have their eyes on these plays, to give the other stocks in McFaulds a boost in their share prices. With millions of dollars being spent on numerous drill programs as I type, it is my opinion McFaulds Lake will be back on investors radar screens very shortly, possibly as soon as today. Often it is said that finding a discovery of significance in such a vast area like McFaulds Lake, is like finding a needle in a haystack. All we would need is for one of these drilling programs to come up with a pin made of gold, to blow the lid off of these plays. Stay tuned, this could get exciting real fast. So many rumours out there right now. But a gold pin? ...hmmmmm

Best of luck to all McFaulds Lake investors.





Al

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>FNC IS HALTED, NEWS PENDING. HOPEFULLY GOOD VISUAL FROM THEIR DRILLING PROGRAM, my fingers are crossed!

Tuesday morning thoughts from TC
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Good morning, what a difference a day makes. After yesterdays exuberance on the major Asian indices, due to the weekend takeover by the US Fed, of Fannie Mae and Freddie Mac, investors woke up to the stark realization, it may have addressed some of the issues of the financial crisis, but is was far from solving it. Today was back to reality for the major Asian indices and the fears and uncertainties of the global economy once again have financial and exporter stocks under selling pressure. The losses are around the 1.5% mark for the Asian indices. In Europe the major indices are rallying as a sharp decline in oil prices is easing inflationary concerns and lifting market sentiment. Banking stocks are still in rally mode in Europe extending yesterdays gains. A strange development is occurring, as European investors are buying financial stocks and Asian investors are selling them, all on the same data. On the economic calendar for today we get the Pending Home Sales and Wholesale Inventories numbers at 10am. The early futures numbers are pointing to a positive opening for the US indices. With commodity prices still under selling pressure due to the stronger $US, it looks like another down day for the Canadian indices.

In McFaulds Lake yesterday, it was a terrible day for NOT, as investors continued to sell off mining stocks. NOT's share price was down over 13%, on the heaviest volume in over a month. The selloff of the TSX-v exchange stocks continued yesterday, as many stocks broke through their support levels and NOT couldn't buck the trend. The support and resistance levels for NOT are now at the widest spread in recent memory. NOT now has support at $1.90 and resistance at $2.88. NOT is now close to putting in a double bottom from July's share price swoon at $2.11. A break below $2.11 has the stock in danger of breaking below the all important $2 mark. It is painfully obvious NOT needs some good news and needs it fast. No longer can it afford to wait for the market in general to turn around, before giving investors some of the good news, many investors suspect NOT has been sitting on, over the slow summer months. As investors abandon anything trading on the TSX-v exchange, the merits of graduating to the TSX should be painfully obvious to Nemis here shortly. With the 43-101 now completed on the Eagle One deposit, all the criteria for graduating to the TSX have been accomplished. I think the time for hand sitting by NOT management on this issue is over, lets get this done Nemis, the sooner the better.

Hopefully we get some long overdue news from NOT today. It is time to forget about only releasing news into market strength, as it appears the Canadian indices are headed for another down day because of weaker commodity prices. Yesterday we received several reports that NOT has discovered some visual gold in their core samples, from their drilling on the anomoly bordering the UC claims. NOT has discovered every other precious metal in their McFaulds Lake drilling programs, so this one should come as no surprise. This could be one of the issues that has investors so confused in McFaulds Lake, there is no continuity in some of these drill results. They are finding rich pods of mineralization, one with PGE's, another with nickel, another with chrome and now we are hearing rumours of a gold discovery. Perhaps it would be better if they just discovered one kind of mineralization, then investors could comes to grips and put a valuation to these pods. Each metal requires different methods to process the ore, just talking out loud here, but I wonder what this does to infrastructure costs, when some of these metals are mined and processed? However, if you get enough billions of dollars worth of ore, I suppose it becomes irrelevant.

I look at all these discoveries by NOT in McFaulds Lake and however I add them up, I see one important thing. We are getting into the billions of dollars worth of valuable dirt in the ground here. Slowly all doubt is being removed, that this is going to turn into one of Canada's largest mining camps. In fact the chrome discovered is apparently a world class discovery, the intercepts and high grades of this chrome, are much higher than most, if not all, producing mines currently in operation.

Then we move onto the nickel that NOT has discovered. The Eagle One deposit already has a 43-101 done, which shows this extremely high grade discovery, is worth somewhere around the $2 billion mark. Some have stated this alone is not enough to warrant a mine, which possibly makes sense. However, then we find out NOT has another nickel discovery at Eagle Two, supposedly this nickel ore is not as high of a grade as Eagle One, but is much larger in tonnage. This completely blows the theory of not having enough tonnage to mine this nickel, right out of the water. JMHO

All of the above brings me to wonder, if NOT has all of these discoveries so far, with billions of dollars worth of ore in the ground. Why is the stocks share price under such selling pressure? I realize weak metal prices is causing mining stocks to sell off as of late, but as of this time, NOT is a discoverer, not a producer, so why the weak share price? It will be years before NOT every takes more than a shovelful of this high priced dirt out of the ground. This leads me to one conclusion. At the current share price, NOT is severely undervalued. The market cap valuation of NOT, to me, is ridiculously low presently. This appears to be a great opportunity to buy one of Canada's fantastic mining discovery stocks, at bargain basement prices. It should also be noted, that NOT currently has over $40 million in it's treasury, so it is well financed, for now and into the foreseeable future. JMHO

My god, reading back, I'm starting to sound like a NOT permabull.

FNC's share price was also under selling pressure yesterday, losing 6.89% of its value. The story out of FNC is the 3rd hole, is going much deeper than originally planned. They must be finding something of interest to keep drilling on this hole. Perhaps they finally reached depth last night, I suppose we will find out something on this front today. Unless we do hear something from the drilling front, I suspect the share price to go lower. I was actually surprised we didn't see another flush on FNC's share price yesterday, to afford the over 300k shorts the opportunity to cover. This story baffles me, why so many shorts still remain on a stock that the lid could blow off on, at any minute. Just imagine if they announced a massive sulphide discovery with a nice thick interval of mineralization. With such a low o/s share count this stock's share price would go ballistic. I must be missing something on this stock, because the 300k plus shorts on FNC makes no sense to me whatsoever. However, I am sure they have a plan.

WSR still hasn't released their assays from their discovery either. With their AGM on Wednesday, I'm expecting to see those assays either today, or tomorrow before the market opens. It was early June when the core samples supposedly were sent to the labs, so the timing of the assay release right before the AGM would make sense. This is one to keep your eye on, it could be very important for all the McFaulds Lake stocks, if it comes up with above average assay values.

Currently the mining stocks and the TSX-v stocks in general, are under tremendous selling pressure. Support level after support level has been broken on the TSX-v exchange. Investors are selling off these stocks in droves. At some point a bottom will be reached and we SHOULD see a bounce. However many of these junior stocks share prices have been severely damaged and may never come back. In the current economic climate, many of these stocks that require financing to keep going, will find it very difficult, if not impossible. This is becoming a dog eat dog time, for these juniors and it is quite probable only the strong will survive. Before making an investment in any of these stocks, my best advice is to do your DD. Avoid any stock that will require financing like the plague. Only invest it stocks that are well financed at this time. The TSX-v could remain in a bear market for months, if not years down the road. This is not the time to be investing in high risk stocks, as many of these stocks are nothing more than buying a lottery ticket. Yes, a few of these TSX-v stocks will probably do very well over the coming months, but the list is getting shorter and shorter, as the bear digs its ugly claws into investors mindsets and pocketbooks. Only invest money that you can afford to lose !!! JMHO

Best of luck to all McFaulds Lake investors.





Al

 

[lor]

Still no news from FNC. Here's a post from AB.

Incredible markets

Posted by: anchorpoint on September 09, 2008 08:35PM

I have invested in precious metals for over 30 years, and have never seen markets like we are witnessing now. Gold/ silver plummeting in price while the U.S. dollar is strengthening. Given the basket case of the American dollar the reverse would accurately reflect the fundamentals. Fundamentals don’t lie; but manipulation does. We are experiencing firsthand incredible manipulation of the markets. The carnage is not limited to “economic worries”; it has been triggered by much bigger hands.

Another factor is lack of precious metal availability for the retail investor. Silver’s price is at its lowest in a year; but try buying it! You finances could be put “on hold” for months before, or if, you get delivery. Silver and gold at their lowest price in a year and none is available! What a Catch-22.

Now the point for us as Noront investors is this: When the market finally admits the true fundamentals, there will be a stampede for value. With precious metal manipulation and its shortage, metals will spike like a coiled spring…and they will be unavailable. What other asset alternatives are there? The flight to assets will focus on companies that have real value; and there will be a stampede toward those. Their share prices will reflect the same. It will be a Category 5 event. And I believe Noront will be one of those companies in the eye of the hurricane.

 

[rj1948]

$2!!!! The arse just fell out of this thing.

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Wednesday morning thoughts from TC</TD><TD align=right>

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Good morning everyone. The major Asian indices are negative once again today with China's Hang Seng losing 2.30% and the Nikkei in Japan down .44%. Asian investors are wary of being caught wrong-footed in case something surprising or positive emerges from Lehman's announcement at 7:30 this morning. In Europe, in early trading, the major indices are negative, led lower by the bank stocks. The troubles surrounding Lehman Brothers, has reignited fears over the health of the banking system. It is becoming obvious, the troubles in the banking system, are a long ways off from finding a solution. At some point, one wonders when one of these large financial institutions, will hit the proverbial brick wall and no longer be able to raise the cash to survive the global credit crisis. On the economic calendar for today, all eyes will be on the Crude Inventories numbers, released at 10:35 this morning. The early futures are pointing towards a positive opening for the US indices. The halt in the slide in commodity prices, should bode well for a rebound today in the Canadian indices, after yesterday's blood bath.

In McFaulds Lake, NOT continued its downward slide yesterday, falling over 9% on its heaviest volume in over 2 months. The talk is the hedge funds, have got caught on the wrong side of commodity prices and are being forced to liquidate to raise cash. Also as the markets continue to free fall, many investors are pulling their money out of resource mutual funds and forcing the fund managers to sell off their stocks, within the funds. As a consequence many of the resource stocks, like NOT, are being dumped into the bids, causing the stocks share prices to tumble. The more liquid the stock is, the faster the dump is. This is a sign of sector rotation, as the institutions pass off their shares to the retail players and the retail players are left holding the bag. This is not to say that sometime in the near future, the institutions won't want back into the resource sector, as it should be obvious, that lately, these institutions have been getting it wrong more than they have been getting it right. First they were on the wrong side of the financial sector and now the resource sector. At some point these funds will run out of shares, of stocks like NOT to sell and normalcy will return, is my thoughts on the current situation. In the meantime, this does create some opportunities for those investors with spare cash, to take advantage of a few excellent bargains. The institutions don't care, like the retail players, that stocks like NOT are sitting on some fantastic news. All the institutions know is they want out and they want out now.

We had an interesting development yesterday in McFaulds Lake, when we had an unexpected halt from FNC. We should be getting news this morning, before the market opens, on just what this halt was all about. One investor was telling me, that he talked to Peter Smith yesterday and the halt did indeed have something to do with the 3rd hole, that was just completed. Obviously Smith was closed lipped but there was an air of excitement in his conversation. It is hard to imagine that Peter Smith would ask the exchange to halt FNC, on anything less than stellar visual news. We do know that FNC will require funding, if they plan on drilling on anything past the scheduled 4th hole. So perhaps we will be hearing more from this front, when the visuals are released this morning. I had always wondered why Smith didn't do a PP, when the share price was much higher last winter. Of course the obvious reason would be, why do a PP and dilute your share base needlessly, before you actually need the money. Now that FNC has drilled a few holes, they should know if continued drilling is warranted. You have to admit Peter Smith is very frugal and in being so, does look after the interests of his shareholders, by not causing needless dilution. This is the reason you see FNC with an o/s share base of only 27.5 million, while other junior mining companies have hundreds of millions of shares o/s and nothing to show for it. Well done Peter Smith !!!

There is one other possibility that would surprise a few investors if it happens. Now that FNC has had a look whats under their property. Could a JV with a company like NOT perhaps make a lot of sense? I have always wondered about this happening, once Peter Smith knew for sure he was dealing from a hot hand. It could get interesting, if it does indeed happen. If FNC goes the route of doing a PP so they can continue drilling, it also opens up a couple of interesting possibilities. Would they do a bought deal financing from within, as we know Sheridan who currently owns around 20% of FNC, does have deep pockets. Obviously, a PP taken by insiders would undoubtedly be a fantastic sign for the current shareholders. Or would they do an institutional PP and get the promotion side of the PP as an added benefit? Whatever transpires today, I'm sure the current shareholders are sitting on pins and needles waiting for the expected news release this morning. Best of luck to all the shareholders of FNC today.

ADD/MTX/WSR should also be in play today. WSR holds their AGM today in Toronto. I expect to see them release the long past due assays, from their discovery sometime today. Even if the assays aren't released today, which would surprise me, the shareholders of WSR, at a minimum, will get an update. I have to admit my curiosity is piqued. That huge intersect of 131.9 M of Semi-Massive to Near-Massive Sulphides that WSR reported in the halt, way back in early June, has some obvious possibilities. This could turn out to be a biggie for the numerous area plays around WSR, "if" the assays, are as good, or better, than many are hoping for.

Don't forget to watch PRB today. If we get some good news from FNC, it opens up some possibilities for PRB shareholders. It is my thoughts that PRB's share price could/should get a boost today, from FNC's news release. If this happens, it would give a few shareholders the opportunity to exit this stock, at a better price. Once the euphoria wanes from the initial pop in the stock, those that use this opportunity to unload today, could wait it out and once the share price returns to current levels, jump back in, thus picking up a few extra shares in the transaction. Or the other possibility, is to just reduce your current cost per share. It is my understanding, that PRB won't return to the McFaulds West property, until sometime later this fall, to redrill. Of course that is if the latest VTEM survey, just recently completed, comes back with anything of importance.

It should be an exciting day for McFaulds Lake investors today. Going over the list of possibilities, we will be getting a news release from FNC, on the status of their drill program, including visuals. We should also, be getting assay results, from ADD/MTX/WSR's discovery, or at bare minimum, an udate from WSR, at their AGM. It is also entirely possible we get a news release from NOT today, from one of many possibilities. The glass of cold water that could get splashed in the faces of McFaulds Lake investors and other commodity stock investors is, we still face the possibility, that we will continue to see selling, in the resource stocks, from the various funds, that have been liquidating. I assume we should be getting close to a bottom, if not already there. But, seeing is believing, the risks are still out there. I will continue to harp to the readers of this board, to be very careful holding some of these junior commodity stocks. Make sure at a minimum, the stocks you hold are well funded. It is getting increasingly difficult for many of these junior stocks to arrange financing. The time is long past, where there is an endless supply of money available, to fund many of these companies, the warning signs are out there. Be aware of it, don't get caught bagholding some of these stocks. You could be sitting on dead money, for years down the road and many of these stocks won't afford you the liquidity, to get out anytime soon. JMHO

The TradingChief site has some very astute investors, to help, the many readers of this board, to make the kinds of decisions, that could save you thousands of dollars of your hard earned money, in these troubling times. For the cost of $20 a month, it could very well be the best money you ever spent. This site was built by one of the elite, top notched investors I have ever had the pleasure of being associated with. Take the time to ask around, from the many paying members of this site, my bet is they will tell you this was one of the wisest decisions they ever made joining the team on this site. This site makes zero dollars from your $20 a month membership fees. Every cent is put back into the site, to buy the numerous bells and whistles that make this site so unique. JMHO

Best of luck to all McFaulds Lake investors.




Al

 

[lor]

Post from TC.

<TABLE width="100%"><TBODY><TR><TD>MTX-WSR-ADD Joint Venture Intersects 26m of 13.8% Zn</TD><TD align=right>

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Well the zinc grades look very good. The silver not bad, but many better finds of silver than from these assays. However it all adds up when doing a valuation.

The amazing thing to me, is the different minerals they are finding in McFaulds Lake. This is like the mall of all the different minerals. Over here we have nickel, down the road we have zinc, across the road we have chrome. Down the side street we have copper, down the back alley we have platinum. I can't wait to hear about the gold discovery, down the garden path. Add all these orbs of mineralization up and we are getting the makings of a very exciting mining camp !!!

This just keeps getting bigger and bigger.

 

[lor]

Headline: Preliminary Results; Fancamp C-1 Drill Programme

Symbol: FNC



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2008) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): The Company wishes to report preliminary results ("visuals") from three drill holes on its McFauld's Lake Property adjoining the Noront Resources Inc. Eagle I discovery. The attached map shows the hole locations and the VTEM anomaly target, which is closely related to Noront's AT-1. The green lines represent geophysically modeled conductive slabs projected to surface.

Hole 1, drilled at 50 degrees to 270 degrees azimuth intersected serpentinized peridotite and dunite over its entire length of 303 metres, as did Hole 2 drilled at 70 degrees to 270 azimuth from the same setup. Trace amounts of pyrrhotite and pyrite were seen in Hole 2 including a metre of semi massive pyrite in a fault zone. Downhole resistivity surveys in these two holes revealed zones of low resistivity beginning at about 135 metres downhole in Hole 1 and continuing to the end of that hole, and beginning at about 135 metres downhole to the end of Hole 2 at 181 metres. Both these measurements suggest the presence of highly conductive material in the vicinity. Hole 3, drilled at 70 degrees to 90 degrees azimuth bottomed at 477 metres. Again the hole was entirely in serpentinized peridotite and dunite with trace amounts of disseminated sulphides, mainly pyrrhotite in the lower sectors of the hole. Preliminary ohm meter testing of some the core in the lower part of this hole indicates a degree of low resistivity that suggests that the peridotite dunite here is itself conductive, but just how conductive is not yet clear.

The important thing to note at this early exploration stage is that we are within the Eagle I intrusive complex and are dealing with a large, structurally controlled, north south conductive corridor some 75 metres wide and 500 metres long. The significance of this is that all of the local discoveries to date, Noront's Eagle I and II, and AT-12 occur in similar NS structural environments so that the C-1 target merits close examination. It is worth noting here also that Fancamp has a similar, as yet untested conductive north south target, located in the eastern part of the property (C-6).

Detailed study and analysis of the core will provide more information about this corridor and its potential to host massive sulphides of the Eagle 1 type.

The last hole of this programme, Hole 4, is currently being drilled from the Hole 3 setup at 50 degrees to 90 degrees azimuth to further test the conductivity zones picked up in the downhole surveys of Holes 1 and 2. Further downhole geophysics will be carried out in Hole 3 to test deeper parts of the system.

This release was prepared by Peter H. Smith PhD, P.Eng the company's qualified person on the McFauld's project.

ON BEHALF OF THE BOARD

Peter H. Smith, Ph.D., P.Eng., President

S.E.C. Exemption: 12(g)3-2(b)

NOTE: To view the map associated with this release, please click the following link: http://media3.marketwire.com/docs/fnc0910.pdf

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

[Ichiban]

I just tried posting something very long...but it didn't post, so we'll try it again(shortened version this time).

Basically, my fear with this stock is that everything posted on this site, agoracom, and TC seems to be extremely one-sided on NOT. It seems that all of the info is coming from people heavily invested in the stock, and that have been drinking the kool-aid. Are all of these people just seeing things through rose colored glasses? Now, I am playing devils advocate here, but I have some major concerns with this stock.

If the stock is sooo undervalued, why does the price keep dropping? If there is sooo much money to be made in the ROF, why isn't a major coming in? I've got to believe there are enough intelligent people out there looking to make money, that if this was such a great deal, why is the SP dropping like a rock? I know the metals are getting beaten up, and the markets are down, and sell-offs are occurring, but people still want to make money.

To make an analogy to sports gambling, what would you think if everyone you see is on one side of a game...every poster, everyone you talk to, all of the touts, everything points to one side, and everyone "sells" their reasoning and why to jump on that side. All of their points seem logical, and after reading and hearing all of this, it is easy to start to love that side as well. But then you see the points actually moving in the opposite direction...they are moving that way for some reason. What would you do? I know which side I would want to be on, and lets just say it's not the side with "everyone".

It seems as though this stock has a ton of value, but are we just seeing one side of the story? I would love to see a post or two stating why not to invest money, or more money, in this stock. Obviously these mining stocks are high risk stocks, but this one "seems" to be the bargain of the century based on everything I see posted. Even the original title of the thread should have people cautious...anyway, I could write a lot more on this, but this should be good for now. Good luck to all, and I hope this stock heads where everyone thinks it is.

 

[MIKEY.1TIME]

I just tried posting something very long...but it didn't post, so we'll try it again(shortened version this time).

Basically, my fear with this stock is that everything posted on this site, agoracom, and TC seems to be extremely one-sided on NOT. It seems that all of the info is coming from people heavily invested in the stock, and that have been drinking the kool-aid. Are all of these people just seeing things through rose colored glasses? Now, I am playing devils advocate here, but I have some major concerns with this stock.

If the stock is sooo undervalued, why does the price keep dropping? If there is sooo much money to be made in the ROF, why isn't a major coming in? I've got to believe there are enough intelligent people out there looking to make money, that if this was such a great deal, why is the SP dropping like a rock? I know the metals are getting beaten up, and the markets are down, and sell-offs are occurring, but people still want to make money.

To make an analogy to sports gambling, what would you think if everyone you see is on one side of a game...every poster, everyone you talk to, all of the touts, everything points to one side, and everyone "sells" their reasoning and why to jump on that side. All of their points seem logical, and after reading and hearing all of this, it is easy to start to love that side as well. But then you see the points actually moving in the opposite direction...they are moving that way for some reason. What would you do? I know which side I would want to be on, and lets just say it's not the side with "everyone".

It seems as though this stock has a ton of value, but are we just seeing one side of the story? I would love to see a post or two stating why not to invest money, or more money, in this stock. Obviously these mining stocks are high risk stocks, but this one "seems" to be the bargain of the century based on everything I see posted. Even the original title of the thread should have people cautious...anyway, I could write a lot more on this, but this should be good for now. Good luck to all, and I hope this stock heads where everyone thinks it is.

great post! i have posted once on the ag forum and it was basically the same " stop drinking the kool aid " idea.

 

[joelatti]

Yes that Agracom board is filled with ONLY KOOL Aid people I have posted some constructive critcism and I was bashed...Things like sell NOW and harvest your loss and then buy back in 30 days for example.....

I do like this company, but it has fallen like a rock...I bought it at about 3 bucks a share...then sold it at 4-5 after it was once above 7.......I then bought back in at between 2-3...I have again sold out at 2 flat...I see NO reason to stay in a stock just to stay in it...hopefully you have some gains in other areas and you can offset them with this loss and heck if you still like it in 31 days...buy the sucker back

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Thursday morning thoughts from TC</TD><TD align=right>

</TD></TR></TBODY></TABLE>
Good morning. Overseas the major Asian indices are once again under selling pressure with the Hang Seng in China down over 3% and the Nikkei in Japan down 2%. Financial stocks are once again leading the charge down as investors dump the bank stocks and head to the safety of government bonds. Also many US investors are cutting their foreign stock holdings and bringing their money home, as they realize that the economic weakness may be worse overseas, than it is in America. This is causing the $US to spike and commodity prices to tumble. In Europe the major indices are all down around 1.5% this morning as retail and banking stocks are under selling pressure. OPEC's decision to cut back production to shore up oil prices and worries about Hurricane Ike, have put a floor under energy stocks in Europe even though the price of crude is down because of strength in the $US. On the economic calendar today we have Export Prices, Import Prices, the Initial Jobless Claims and Trade Balance numbers at 8:30 this morning. At 2 this afternoon we get the Treasury Budget numbers. The early futures numbers are currently pointing to a sharply down opening for the US indices. In Canada it is all about commodity prices, the TSX will live and die in the direction of the commodity prices.

Back in McFaulds Lake, it was another day of selloffs for NOT, with the share price down over 12% on heavier than usual volume. It just seems it's one thing after another for the reasons why NOT's share price is under selling pressure, first it was the funds selling commodity stocks and now the poor drilling results from FNC. Its obvious the shorters are having a field day as each day they have a new reason to drive the share price down further. As NOT breaks down below support level, after support level, many retail investors are throwing in the towel. Its painful when todays apparent bargain prices, just get cheaper the next day. We have resistance at $2.26 and support at $1.44 on the chart.

Personally, I went against my own rules yesterday and bought NOT at $1.71, $1.72, $1.74, $1.76 and $1.80. Usually I wait for a stock to bottom out and start to turn before taking a position. However, yesterdays buys were a long term investment for me and I will use these shares as my core position. The share price looks cheap enough for me, that I am willing to take the chance, and buy in at these levels and sit on the stock, until it rebounds. Yesterday the buzz word is where is the bottom for NOT? Well that is a tough question to answer, honestly no one really knows. But I ask myself the question, has fundamentally anything changed for NOT? Obvious answer is of course it hasn't, other than investor sentiment and the shorters having a field day, from the lack of a response from NOT management. Which brings me to the point, what has Nemis done for the share price of NOT recently? We have assay results that are months overdue and not a peep from Nemis, as his share price crumbles. We keep getting all these leaks where Nemis is telling his faithful, hold on, use patience, stop looking at the day to day share prices of NOT. Well Nemis it is show time, either put up or shut up. This god like stature some of the permabulls have given Nemis, is growing a tad thin with me. He has investors on his permabull site, that have mortgaged their houses and took positions at share prices 3 times the current share price level. The longer the share price falls, the harder it will be to get the share price back up to anywhere close, to where he was telling his faithful to buy, buy, buy. It's a hell of a lot easier to get the share price back up to $6 from the $4 level, than it is from the $1 level.

Looking back I remember all the nasty PM's and retorts to my posts, that I was receiving from the permabulls, when I was telling the investors in NOT, on Agoracom, to take some profits at the $7, $6, $5 and $4 share prices levels. No need to go into the gory details, but I do feel sorry for some investors who blindly listened to the rah, rah of some of the head permabulls. This is why, a site that only allows one sided views is very dangerous. Some people don't see the risks, when they only get one side of the story. There is no use going on and on about this, but I do hope some investors are starting to open their eyes to the reality, of why you need to listen to both sides of any story. My intent was never to be anyones saviour, just to point out that a coin has two sides. I keep hearing the share price of NOT is being manipulated and I agree it is. However, most stocks share prices are manipulated, in one way or another. NOT, is no different than any other stock trading on the TSX-v exchange. So forget about the manipulation theories and deal with the reality where NOT's share price sits, right now. JMHO

NOT desperately needs some news right now, not next week, or a month down the road, today. It is my belief Nemis has let this situation get out of control, by sitting on news, waiting for an opportune time to release it. The blood letting, needs to be stopped right now and a line drawn in the sand. How can a stock sitting on billions of dollars worth of nickel, PGE's, gold, chrome, etc etc, lets its share price fall, to having a market cap of $230 million? The Eagle One deposit alone is worth more than this valuation. When you start getting zero valuation for potentially $30 to $50 billion dollars worth of chrome, it tells me the management of NOT isn't getting the word out. No longer can we blame the weak market for resource stocks in general, as the sole reason for NOT's current share price. It is time for Nemis, to put up or shut up. JMHO

FNC, what a disaster yesterday was for Peter Smith. The share price definitely deserved the haircut it received, when you get a news release like that one. What a blood bath for shareholders as the share price fell over 50% on heavy volume. The shorter's loved it, it gave them the opportunity they were waiting for, to cover. Wouldn't it be a cruel twist of fate if Hole #4 came up with the motherlode? Stranger things have happened, but the odds are very remote at this point. Here is my take on what will happen to the share price of FNC now, unless we see a miracle and Hole #4, does come up with the goods. Now that the shorts have covered, the volume will slowly dry up. Then with a lack of buyers, the share price will do the slow bleed. Soon the liquidity will be so low, investors won't be able to get out, if they wanted to. The best type of advice you can give investors when they receive terrible news like they did yesterday, is to sell on the open, take your losses and move on. For those that still believe there is a chance that FNC may come up with the goods, it is best to let the dust settle, then buy a few shares when the share price bottoms. If Hole #4 comes up as bad as the first 3 did, you can stick the fork in FNC for a long time. The share price is virtually worthless and those that continue to hold will be sitting on dead money, with nobody to sell your shares too. Perhaps buy a few shares, months from now, if FNC ever regroups and puts together another drill program. The odds are extremely low, but my plan is to buy a few shares today on the cheap, just to take a look at what Hole #4 comes up with. But this is money I am prepared to lose, I look at this like buying a lottery ticket, nothing more, nothing less.

MTX/WSR finally released their long anticipated assay results yesterday. I thought the results were fairly good, but once again the market yawned and it just didn't care. In this weak market environment for resource stocks, coming up with assay results for zinc, just doesn't cut it. Of all metals to come up with, they had to find zinc, the weakest of all the metals. In better times, the share price would of went up with the kind of assay results WSR reported. It's sad, but right now any stock in McFaulds Lake that reports assays, is held up to the kind of standards that NOT set when they reported assays from Eagle One.

Well, after yesterdays fiasco with FNC and WSR, it is becoming very evident, buying shares of stocks in McFaulds Lake is not worth the risk. Many, including myself, were expecting good news from FNC and WSR to put the McFaulds Lake story, back on the map, so to speak with investors. It is time to be honest with ourselves and face up to the sad reality of the situation. Stick the fork into the area plays in McFaulds Lake, for the time being, is my call. In the current market environment, NOT and possibly FWR are the only stocks worth owning in McFaulds Lake and even they are extremely risky. The rest are now wantabees and not worth the risk. JMHO

Best of luck to all McFaulds Lake investors.





Al

 

[degengambler]

H @ R Block

No Matter Who Wins, There Will Be A New
Tax Code...also They Will Be Selling Off Any
Non Tax Related Assets

 

[mickj]

degengambler

Was this meant for a different thread?

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>3 post of interest on NOT from AB</TD><TD align=right>

</TD></TR></TBODY></TABLE>
Neil Novak...Part 1
Posted by: Canseco on September 10, 2008 11:53AM

Noront won't comment directly on FNC's results, or prospects.

They will comment again on our AT1(just west of FNC's C1) results. They had established that there were conductors present, but after drilling they decided that the cause of the conductivity was either very deep, or the result of veinlets of serpentinite, and magnetite, in a very wet environment. Based on these results, they decided to move to other areas, but could return in the future. It appears that FNC has found the same.


NN...part 2
Posted by: Canseco on September 10, 2008 12:24PM

There will be a news release in the next few days providing an extensive update on the Eagles, and drill results received to date. They will explain what has been done, and what they are working on.

Also they will comment on the Blackbirds.

The lack of news over the last month or so, is the result of a change in the way they will report to the market. NN was away most of August, as we know. He met with a number of institutional investors, and they told him the chromite was too complicated for even them. Noront's financial advisors have told them that they need to simplify their explanations of the chrome, and separate the discussions from the news and discussions of the nickel/copper/pge deposits.

Noront's new website, launched yesterday, attempts to make the separation between the Eagles, and the Blackbirds, and further explain the potential of the chrome.

Neil went on to explain that E2 and BB1 are genetically linked (as mentioned in my post the other day, this is very important to know as they track down the magma chamber).

Neil then mentioned, with confidence and conviction and a hint of excitement (my impression) that our Blackbirds have grades that "far exceed" the Kemi mine, and most of the others as well. He said we have "tremendous widths", and when you consider the size we have encountered so far, and put that together with the other chrome finds nearby (SPQ etc.) you realize how big the chrome discovery is. It is "very, very large".

So, the retail investor does not understand the significance of chrome discoveries, neither does the institutional investor, but rest assured that the big miners do. While this complicated mineral may delay our eventual bonanza, it will come.


Holding with confidence (actually picked up a few more).......Canseco



Posted by: Canseco on September 12, 2008 03:34PM

After my recent post regarding my conversation with Neil Novak, I received details, from several of the well respected posters on this board, regarding their conversations with the office. With their permission, I am posting them in point form..............




-they have turned down several offers at much higher prices


-on E2 they are down past 700m and have been hitting nickel all the way down. They are tracking the "Big Pools"


-Not looking to partner at low prices right now since they feel they have enough cash to firm things up further


-currently talking with Xstrata and Vale who can't believe the widths and grades that we are currently hitting. Very interested in the chrome.


-Going up north to talk to the native reserves and the government about starting the permitting process for the Double Eagle project.

- they are definitely in the pre-production phase.


-Also negotiating about infrastructure with natives and gov. So far things are progressing along nicely.


-they are on target to get down to the 100 zone at Windfall by the end of Sept.


-they are extremely excited about the WSR hit that was released the other day.

*****************

Based on what NN told me, I will be surprised if we don't have an extensive NR by Tuesday morning (maybe Monday)




GLTA,......Holding with confidence........Canseco

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Friday morning thoughts</TD><TD align=right>

</TD></TR></TBODY></TABLE>
Good morning. Overseas on the major Asian/Pacific indices we had a strong day in Australia with the All Ordinaries index up 1.76% on strength today for commodity prices. In China the Hang Seng closed flat, but in Japan the Nikkei closed up almost 1%, with financial stocks being todays best performing sector. The news that Lehman Brothers was in talks about a possible sale, eases concerns that the US Fed would need to jump in to save yet another financial institution. The credit worries certainly don't end with Lehman being rescued, but as each troubled financial institution comes up with a survival plan, it knocks one more off the list that will need to be dealt with in the future. Once each troubled financial institution is dealt with, a bottom can be achieved, in the financial sector and normalcy can return. In Europe, the major indices are up sharply this morning, as the Lehman rescue plan is giving the banking stocks a big boost. Mining and oil stocks are rallying, as investors do some bargain shopping after the recent sharp declines in the sector. This is the "relief rally" many investors have been expecting. Hopefully todays early strength in commodity prices in Europe, carries over to the Canadian indices as well. Fatigued investors in Canada, could certainly use this welcomed respite. On the economic calendar for today we have the Core PPI, PPI, Retail Sales and Retail Sales ex-auto numbers at 8:30am. At 10am the Business Inventories and Michigan Sentiment-Preliminary numers are reported. The futures numbers are pointing to a negative start for the US indices. However, the economic calendar numbers will ultimately decide the direction of the US indices.

Back in McFaulds Lake, NOT finally appeared to have found a temporary bottom yesterday, as the blood letting stopped and the share price was up almost 3% for the day. The chart indicators for NOT have turned up, from oversold territory, for today we have support at $1.55 and $2.07 is the resistance. NOT needs a rally to $2.47 to get atop its 13(MA), this will be the major resistance level, that most likely would require news to achieve. It would take a close above the 50(MA) at $2.79, for confirmation that the downtrend that started in late March, is finally behind us. It is painfully obvious NOT has a long ways to go, to gets its share price righted. It is hard to believe after spending millions of dollars on exploration, with numerous exciting discoveries along the way, the share price of NOT has fallen back to levels below, what they were one year ago. This just goes to show you, the sad state that junior resource stocks find themselves at, in this current market environment. NOT finds itself with billions of dollars worth of proven mineable resources discovered over the last year and a share price below where it was at one year ago. This is one of the main reasons I have been pounding the table lately, telling readers of this board that the current share price of NOT, appears severely undervalued to me. Of course it doesn't matter what I believe, it is all about the valuation the market gives to NOT's share price. For NOT to have a current market cap of $237 million and potentially $30 to $50 billion dollars worth of just chrome, (forgetting about all the other discovery assets), it shows me, just how far the market is out of whack at this time. JMHO

Hopefully, with the expected market recovery, over the short term at least, Nemis takes this opportunity to release some of this pent up news we have been hearing about. Getting some assay news from AT-12 or at least some news from the visual front, would go along ways to getting NOT's share price back on track. If the news from AT-12 is anything remotely close to the rumours I have heard about this discovery, shareholders will be in for a welcomed surprise to NOT's share price, to the upside. The rumours have been saying they have pulled up core samples from this discovery, that appear to look like the Eagle One core samples. Obviously no one should expect the kind of assay values NOT received from the Eagle One deposit. Those kind of numbers are once in a lifetime discoveries, in fact they were the richest I have ever seen. However, if AT-12 can show assay values with anything over 2% nickel, the market should respond favourably.

Other possibilities for NOT news releases, could be assay news from the chrome discoveries at Blackbird One and Two. Nemis was quoted long ago, that a rough estimate by him, was the value of the chrome discovery from Blackbird One was at least $15 billion. Since that time the drilling programs have discovered Blackbird Two and my guess would be there have been additional discoveries of chrome at some of the other anomolies that have been drilled since. For some reason the market isn't giving NOT any valuation towards their market cap from these discoveries. We are talking about, what some are estimating to be, in the vicinity, of at least $30 billion for the chrome that has been discovered so far, some astounding numbers to say the least. The chrome intercepts and the assay values, reported so far, have shown NOT's chrome to be a world class discovery. In fact, the current producing chrome mines in South Africa and Finland have much smaller intercepts and the assay values that NOT has reported so far, are superior. At some point you have to believe, the market will give NOT some sort of valuation for this world class discovery. When it does, the share price will look awfully cheap at current share price levels. JMHO

We have already heard from NOT, a little bit about Eagle Two also. The nickel assay values are not nearly as high as the Eagle One values, so far, but we should be receiving assays, at any time from core samples currently in the lab. The important fact here is, this will add to the tonnage, of the already reported 43-101 of the Eagle One discovery. I am not sure at what stage the drilling program is at, on this discovery. However, getting some additional assays reported and hearing how close we are to receiving a 43-101 on this discovery, would obviously be the kind of news that would add to NOT's current market cap. I look forward to hearing more about Eagle Two.

Lets talk about some of the rumours making the circuit these days. A word of caution here, these are just rumours and as such, lets treat them that way. Without official confirmation from NOT, rumours are a long ways from being fact. However, some of these rumours come from very good sources, so listing them does very little harm, as long as all realize, they are nothing more than just RUMOURS. It is rumoured, at the AT-5 anomoly, they have hit something of significance. We have not heard one peep from NOT, about this rumour, as of yet. Another rumour making the rounds, is NOT pulled up visual gold, in a core sample, from the drilling program, somewhere in the vicinity of the UC property claims. In fact the visual gold rumour I have heard from several sources. There we have it, two big rumours, we will come back to these rumours, at a later date, to see just how good some of our sources really are.

Yesterday FNC's share price, was once again under selling pressure. The volume dropped off from Wednesday's bloodbath, but was still far above normal. The drilling of Hole #4 should now be complete, so we may want to keep a close watch on the share price today. Hole #4 is FNC's last chance on this program to come up with something of significance. If by some miracle FNC does hit, we should see it in the share price at the open today. If we see further share price losses today, you can stick the fork into this stock. What I expect to happen with this stock if Hole #4 proves to be another miss is this. We will see a further share price haircut today, but on lesser volume. Then starting next week the volume will drop off a little more each day. The share price will do the slow bleed, a little more each day. Finally the stock will get down to such low volume, there will be very few bids, the liquidity will dry up, to such extremely low levels, that investors will not be able to get out, if they wanted to, there will just be no buyers, other than at ridiculously low share prices. Those that are left in will be bagholders, until a further announcement of a drilling program is announced. Which could be months, or years, at the speed Peter Smith travels.

The wildcard with FNC, is they announce that Hole #4 hit something of significance. The odds of this happening are very low, but stranger things have indeed happened, in the mining world. If this were to happen, by some outside chance, disregard all stated from above and watch the fireworks. The share price would go ballistic and the ones that bought into the lottery ticket at yesterdays prices would have their payday. I never bought any shares myself yesterday in this lottery ticket, but nothing would make me any happier, for those that are still holding shares in this stock. Best of luck to all the holders of tickets in this lottery. At one time I predicted that FNC's drilling program would be the mining stock of 2008 in McFaulds Lake. I should know by the close today, if I should be prepared to digest a platter of humble crow.

Yesterday the share price of NRN had a good day, at least the share price was up. The volume was very low, so I wouldn't read a whole lot into the closing price. However I did notice a couple of investors in the Trading Chief chat room, talking about a telephone conversation they had with NRN. I would really appreciate it, if anyone that did talk to management yesterday, would post what they found out from the conversation.

You may have noticed how most of todays morning thoughts are all about NOT today. That is because, currently I believe there is not much else to talk about in McFaulds Lake. Once again NOT has shown their complete dominance as the major player in McFaulds Lake. The rest of the McFaulds Lake area play stocks, all depend on NOT, to keep the dream alive. JMHO

Best of luck to all McFaulds Lake investors.




Al

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Monday morning thoughts from TC</TD><TD align=right>

</TD></TR></TBODY></TABLE>
Good morning. On the overseas markets the major Asian indices of China and Japan are closed today, with the weekend turmoil in financial stocks, they are the lucky ones. In Europe, the major indices opened to a bloodbath. Investors are realizing this could be financial Armageddon, further downgrades and losses, are the risks now in the financial sector. Someone just turned the light on and investors now understand, the government can't, and won't, bail these financial institutions out any longer. Commodity stocks are also under selling pressure with falling prices in the base metals and crude. On the economic calendar for today we have the NY Empire State Index numbers at 8:30 am, followed by the the Capacity Utilization and Industrial Production numbers at 9:15 am. The early futures numbers are pointing to sharply lower opening for the US indices. Lower commodity prices does not bode well for the Canadian indices. The saving grace for the Canadian indices may be the price of gold, which is up around $10 as I type. Perhaps today is the day the markets finally capitulate and we find that bottom, so many have been predicting. If we see a sharp capitulation sell off in the markets today, followed by a rally, my bet is, we could/should, have the worse behind us. The markets could then be set up for rally mode over the next several weeks. JMHO

Back in McFaulds Lake, NOT had a good day on Friday and finally returned back over the $2 share price level. The massive selling by the funds appeared to have abated, as the volume returned to normalcy. However it may be hard pressed to hold onto those gains today, as the equity markets worldwide are in capitulation mode. The chart is showing resistance at $2.15, with support at the $1.79 level. The chart indicators have turned, and are pointing to further gains, but with the bloodbath in the world equity markets today, I doubt NOT will be able to avoid the sell offs. The problem for NOT today will be, many investors who bought last week, are now in a winning position and may take profits early, if the situation presents itself. This may be a hard day for the NOT bulls to stomach from early indications.

From all reports, we should be getting news, from NOT at some point this week. Obviously any news that was planned for early this week, will be held back, until we see some normalcy return to the world equity markets. Many are predicting assay results from the AT-12 anomoly this week. Personally this is the news I have been waiting for. If NOT can come up with assays showing the nickel content being anything around the 2% level, we should/could get quite a boost in the share price. NOT has numerous potential news releases, but my bet is they are all put on hold, until the world equity markets get over this latest flu, caused by the collapse in financial stocks. For those that are currently sitting in a losing position with their holdings in NOT, best advice is to sit on your hands and do nothing. At some point the markets will come to its senses and NOT will receive the proper valuation that it deserves. For those with cash, opportunity should once again knock today, to grab some shares on the cheap. I find solace in knowing NOT is one of the best stocks to own on the TSX-v exchange. In fact remembering back, it wasn't long ago NOT received the award for being the #1 stock on the TSX-V. When the markets return to some sort of normalcy, the best stocks, will be the first ones to bounce back. JMHO

Interesting situation concerning FNC is unfolding these days. Last week FNC was halted and released one of the most confusing news releases that I can recall in recent memory. In fact many shareholders where left shaking their heads trying to make sense of the situation. The halt was at the request of Peter Smith according to the trading halt news release. To have a halt for a news release like that one, is mind boggling to say the least. Why not finish the drill program before giving a visual release like we were told was going to happen, was my first thought. The jest of the news release appeared to say that FNC had failed miserably on its first 3 drill holes. When reading back it really doesn't say they missed, but it doesn't say they hit either. What happened was the stock sold off and sold off hard. This afforded an opportunity for the 317,042 share shorts to cover. Many including myself would love to know, just who held all those shorts during such a high profile drilling program. Obviously someone was in the know, is my take of the situation. JMHO

Now we hear, FNC rushed the core samples to the labs, and in fact there may be more in the core samples, than first was believed. The rumour mill is saying, FNC now plans to drill more holes, than the 4 we were told, was the maximum, to expect, on this drilling program. We have also heard, that FNC may be planning, to do a bought deal PP financing, so they can continue with the current drilling program. However this is still only a rumour, so treat it as such. If this indeed happens, my first thoughts would be the investors who sold off their shares in FNC last week, were given the shaft by Peter Smith and company. Perhaps the warning from a few investors, telling people to be very careful with any stock that had Pat Sheridan Sr involvement, is coming to fruition. Something smells and smells real bad if FNC does indeed announce a bought deal PP financing and we find out, that Peter Smith and Sheridan Sr are part of it. Stay tuned FNC is playing out like a soap opera.

There is no use going over some of the other stocks in McFaulds Lake right now. Obviously with the crash in world equity markets, the highly speculative stocks in the ROF have very little chance for share price advancement. In market meltdowns, the last thing on investors minds, is to be buying into speculative plays. Many of the stocks that looked very cheap last week, will look a whole lot cheaper today. For those with some spare cash, taking the opportunity too buy some of these stocks at bargain basement prices, may prove, to be the right thing to have done, in hindsight. I will say this, avoid buying any of the McFaulds Lake stocks unless you are a long term investor. The tax loss selling this year may be particularly brutal in the coming months. Also do your DD, make sure any of the stocks you buy, have a good cash position, and there will be no need for financing, any time soon. The capital pool for these stocks to arrange financing, has all but dried up, and I don't see the situation turning any time soon. Today may be very hard on the stomachs of many investors, you may want to turn off your computer and go back to bed. My best advice is don't panic, we have been through these market crashes many times before and will again in the future. From my past experiences in the market, those that panic and sell off on days like today, usually regret it a few days later. However this is only my opinion, take it for what it is worth, not much.

Best of luck to all McFaulds Lake investors, we need all the luck we can get lately.





Al

 

[lor]

Here's a post from AB.

Great News for FWR,SPQjv, and NOT and all of ROF...
Posted by: johndefur on September 15, 2008 10:39AM

Finally confirmation of what these 3 Players have been saying for the last year +....The 10 to 14 Kms NE stretch from E1+BB1, to the end of FWR claims +, has finally been confirmed as being mineralized...for now the mineralization is composed primarily of Chromite, However, I beleive we will also get confirmation pf additional NI CU PGEs whithin abovenoted NE trending stretch...
There should be no question now that a Large and rich Chromite Deposit has been in part outlined going NE by drilling from NOT claims E1+BB1, to SPQjv and now further NE to FWR claims...special attention to "rich" This Chromite deposit appears to be one of the richest in grade and widths in the world. In addition the Chromite grades are very high indeed, as well the ratiio of Fe to Chromite is also very high indeed @ 1.75 to 2 , which would be excellent to refine into FerroChrome, which will obviiously make these deposits very profitable indeed...

So what aboout the 'E" NiCuPGEs deposits...well just as BB1+2 have been reported to be the mouth of the mineralization which responsibly "fed" the E1 NiCuPGEs deposit , so it appears to me that this new discovery by FWR, is the mouth which also 'fed" the new Ni Cu AT12...point of interest is the geographic position of E! which is NE of BB1, and the AT12, which is also NE of this new FWR find....I have pointed out to NN of SPQ, that a similar association between SPQ Chromite "hits" in a Norhern anomaly similar to E1 and AT12, which is 90% in SPQ jv claims....

As I mentioned on several occasions in the past these 3 ROF players , NOT. FWR, SPQjv will eventually merge in some way at some point , in order to facilitate a sale of these deposits...and let's not forget SPQjv 10 VMS CuZn deposits/occurences still to be drilled out...

Said 14 kms stretch is a "HOT" spot indeed, and I suspect they will find more Chromite and NiCu Pges deposits, DEEPER....Although the "markets" may not react right away, because of this terrible financials enviroment, In my view GOLD will soon lead the way UP for all these Metals, as the US$ collapses for real...

Good luck to all who hung in here at the ROF...

IMCO

JD*