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40c to $6.30 -- Noront Resource

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October 17, 2007 – Comments (2)

Wow, I've been away and just had a look at what Noront Resource has done.  I posted on it in http://caps.fool.com/Blogs/ViewPost.aspx?bpid=16419&t=01004034443672390362.

It opened today over $6, at $6.30 as of this writing.  Amazing.  I guess that's about 1600% since August.  I looked closer and there are way too many unknowns to justify this, imho, but I do find this one really interesting to watch.

NOT is on Canada's venture exchange.

It has a very nice looking nickel grade, but potentially the deposit is not as big as the price is suggesting, but it is being given a Viosey (sp?) Bay spin.  If a big deposit, it would be profitable when other mines would be closing their doors.  I just do not see that kind of evidence at this point.

Take a look at the LME warehouse levels for nickel, http://kitcometals.com/, follow the links at the side to look at nickel, click on "charts" and then "historical charts" for nickel.  Nickel has a relatively small world demand relative to its abundance in the world.  Read my post on the abundance of minerals.

 

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