selkirk are you familiar with Noront Resouces

[selkirk]

Freelanc agree there is a lot of red tape and hidden expenses. most mining budgets are higher than estimated... often at least 50%.

also before a mine happens they will need an environmental impact study, pre-feasibility, final feasibility study, an agreement with the natives.

plus most jr. mines never reach the mine stage, theses drilling results have been very high and then low. the chromium is another angle.

the stock could go on another run, since this thread started the stock went from 3-7 on drilling results and promotion...now back to 3.30.

could easily go on another run, they have....
1. media coverage, the national post (national paper in Canada) seems to be doing positive articles on them....many jr.s get ignored in this market even on good news.

2. a wide group of investors who believe in the story, checked out the message board, they are all believers, they have even some who follow the stock from cdn. US, europe. most of these are willing to buy not sell in the short term.

3. promotional, this management team promotes the stock, talks about even small projects and everything. this is not always bad, since you have to get the story out there.

negatives.

they will have to speed up the drilling results.

managment have more than one project even two on the go...they should concentrate on one or two, they will just waste cash and dillute the main story they are trying to tell.

I encourage LOR to post more info about this stock and for people to post about a stock they like... in the past we have had long threads on other items, such as jr. drug stocks.

one reason like these boards and do not post much at open market forums are that they are often biased.

only visited their main board twice however there is not negatvie post could find...most of the stock message forums are just for the bulls of a particular stock.

where on this board it seems people can question/discuss agree/disagree with stocks, and sectors, ect.

thanks
selkirk

 

[LOR]

selkirk & freelancc, thanks for sharing your thoughts. As per all my post I do follow this stock petty close. If I should lose money on this stock it won't be because I didn't do my DD, thats for sure.

Friday morning thoughts from TradingChief

Good morning. What a difference a day makes, overseas for the most part the Asian and European Indices are a sea of red. Yesterdays weaker than expected weekly jobless claims and weak 2nd quarter gross domestic product numbers, in the US started this latest slide in the indices. Today is another busy day on the economic calendar as we get Auto & Truck Sales, Average Workweek, Hourly Earnings, Unemployment Rate and Nonfarm Payrolls numbers at 8:30 am. At 10:00 am we get the Construction Spending and ISM Index numbers. All eyes will be on the Nonfarm Payroll and ISM Index numbers today, to give the US indices leadership going into the weekend. Weak metal prices are causing the mining stocks to be the biggest losing sector on the indices in Europe, which is a big concern for the Canadian indices heading into this holiday weekend. The Nonfarm Payroll numbers will most likely be the deciding factor for the direction of the US indices today.

Back in McFaulds Lake, the assay numbers from NOT's chrome deposit, wasn't enough to get NOT's share price, to break through the resistance of its 50(MA), and hold it yesterday. NOT hasn't had a close above its 50(MA) since early April and it is becoming obvious it will take some good news from NOT to break through this important resistance point. The 13(MA) and the 50(MA)'s are converging, so a trend break for NOT's share price looms.

The latest word from Nemis, is the chrome discovery value, from Blackbird One, is somewhere around the $15 billion range and the 43-101 for this deposit will released by August 15th. Obviously the market and Nemis don't agree with the value Nemis is telling his faithful, because the market is only giving NOT a market cap in the $430 million range. I can't imagine Nemis giving his shareholders this kind of information but numerous investors are claiming Nemis told them this, in recent telephone conversations. My first thoughts were, one of these days the exchange is going to slap Nemis on the peepee and hard. If Nemis is correct and we use an insitu valuation of 10%, for this chrome discovery, it would add a $1.5 billion value to NOT's market cap. Adding up the Eagle One market cap valuation with the chrome valuation, would mean NOT, should currently, have a market cap of around $1.8 billion. This would equate to a per share valuation of around $13.85, using Nemis's numbers. NOT closed yesterday at $3.30, so something doesn't add up in this equation. Either the market is severely under estimating NOT's true value, or Nemis is so full of b/s his eyes are turning brown. My guess would be something in between.

Yesterday ADD/MTX/WSR's share price took off, all adding somewhere in the neighbourhood of 30% or more to their share prices. In June WSR announced they had discovered an intersect of 131.9 M of Semi-Massive to Near-Massive Sulphides. We have been waiting for assays from this discovery ever since, perhaps that announcement comes today. Yesterday an investor reported the principles in WSR's management, were enroute to the McFaulds Lake drilling camp, so it possible WSR pulled up another core sample of significance. That could be the reason the share prices took off. I would guess WSR will be halted before the market opens this morning, or we get a news release announcing assay results from this discovery, pre market. I have heard, NOT gave one of their drills to WSR, to do some follow up drilling after the 1st discovery had been reported. Whatever the reason, it should be an exciting day for shareholders of these stocks. If we do get assay results and they are very good, or another visual hit of significance, the proximity plays which should benefit the most would be BMK, DSP, MKR and TME.

Word from Peter Smith of FNC, is the drill will be on site and ready to go for Saturday. Smith will be making a news release, announcing drilling has commenced, on Tuesday. Finally the long anticipated drilling program for FNC is about to begin. It should be a wild ride for FNC investors over the next couple of weeks. Best of luck to all who have kept the faith.

The word from David Palmer the President of PRB, is the announcement for assays from the Victory drilling program will come pre market on Tuesday. Included in the assay results, will be a visual report from the McFaulds West drilling program. The market is sure not showing its hand, because the volume of shares traded is a yawner, so far. Perhaps we will get some direction today before the close, offering us some clues on what to expect on Tuesday. One thing for sure, I will be holding my shares until we get the official news. I have placed my bet and to me, this is an all or nothing risk/reward gamble.

There is lots on the plate for investors over the next couple of months in McFaulds Lake. Numerous companies are spending millions of dollars, trying to come up with the next big discovery of significance. All these drill programs under way or just about to get started, should offer investors some gut wrenching opportunities. Many of these drill programs will come up with nothing and some of these smaller companies will slide off into the abyss. However those that discover something of significance will put their companies on the map. The risks are high but the rewards are even higher for investors who get lucky and put their money on the right horse. Exciting times are back in McFaulds Lake !!!

Best of luck to all McFaulds Lake investors.




Al

 

[LOR]

Post from AB

I also spoke to Richard Today

Posted by: rockstar on July 31, 2008 07:46PM

In response to: Re: Just spoke with RN ...a... by SnugTheJoiner

Good evening folks,

After trying to push NOT onto all my friends for the past year I have finally decided to give up on them. Most of them came back with the excuse that NOT is in the middle of no where and that the share price will drop upon the completion of an economical mining evaluation of the project. I thought I would ask Richard this question,

His reply, "That is ridiculous, we already have a 43-101 for Eagle 1, furthermore, if you want I can show you the information on the the infrastructure that is needed"

I asked him if he still is excited about the cromium? His reply was, "We still have not finished with Eagle One yet. We are trying to get the 43-101 out that will include the value of cromium. This should make the market realize the true value of what we have here."

Folks, I still believe that Noront will be the real deal, I can hear it in Richard's voice. Many good things to look forward to. This is starting to sound more and more like Voicey's Bay.



Here's a post from TC in regards to the posts about the phone call a poster had with Richard.



If it was only 1 poster who claimed Nemis told him the chrome deposit was worth $15 billion, I would chalk it up to probably being a post of wishful thinking. However, numerous posters have reported they got the same seemingly outrageous statement, from Nemis, in conversations with him. I think we have one of two possibilities here, either a group of investors have got together and are spreading the same bs, or Nemis is actually saying that he believes the chrome deposit to be worth $15 billion.

Perhaps the exchange is not stepping and slapping Nemis, because its the truth. If this is the case then why would Agoracom pull the $15 billion prediction. Remember NOT pays Agoracom for that site. Maybe Nemis wants this story told. I guess we will soon find out, if they release the 43-101 by August 15th as Nemis is telling everyone.

The biggest problem I have with believing this story, is why is NOT's share price at $3.30, if the stock is worth $13.85? Is it possible the market is this out of whack?


Al

 

[LOR]

NEWS - Noront Adds to Support Team
Posted by: AGORACOM on August 01, 2008 04:18PM

TORONTO, ONTARIO--(Aug. 1, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) is pleased to report that the board of directors have approved retaining of two new consultants to assist on the Double Eagle project:

Stephen Balch

Stephen Balch has worked for more than 23 years as an exploration geophysicist and developer of geophysical technology. From 1995 to 2001 Mr. Balch worked as an area and senior geophysicist for Inco Limited exploring for nickel deposits in the Sudbury Basin and at Voisey's Bay.

As an independent consultant, Mr. Balch has consulted to a number of major mining companies, mid-tier miners and junior exploration companies in the search for nickel-copper deposits, platinum group element deposits, VMS-style mineralization, magnetite, diamonds and gold. He has worked in a number of countries including China, South Africa, Ethiopia, Guinea, Russia, Turkey and Mexico.

In 2002 Mr. Balch joined Aeroquest Limited where as President he helped take the Company public in 2004. In 2007 Mr. Balch formed Canadian Mining Geophysics Ltd, a new airborne survey company offering high resolution magnetics and radiometrics. In June 2008 he became President and CEO of Tanqueray Resources Ltd, a junior exploration company with gold projects in Nunavut and Ontario.

Currently Mr. Balch continues to consult to junior exploration companies and is actively developing new geophysical technology. Mr. Balch has agreed to act as an exclusive consultant to Noront in the Ring of Fire area of northeastern Ontario, save and except for his agreement to act on behalf of one other junior company in the area and for any other company he may be a principal of.

James Atkinson

Jim Atkinson (M.Sc) has been retained as the Company's Exploration Manager, he is a Professional Geologist (P.Geo) with over 25 years experience as an exploration geologist at increasing levels of responsibility up to and including Exploration Manager and V.P. Exploration and over 10 years experience as a Hydrogeologist and environmental consultant.

From 2000 to 2008 Mr. Atkinson was senior Environmental Consultant and Senior Hydrogeologist for Trow Associates, AMEC and ADI.

Prior to his work in the environmental field, Jim was Exploration Manager for QGX in Mongolia where they explored copper/gold porphyry systems on several large properties which were optioned to Ivanhoe.

As an independent consultant, Mr. Atkinson has completed exploration programs in all Canadian Provinces and Territories and has worked Overseas on all continents.

In addition, the company wishes to advise that it has retained the services of two new support staff to senior management.

As part of the compensation to the new consultants and the new support staff, the compensation committee has approved the issuance of an aggregate of 125,000 options to purchase common shares of the Company for a period of five years at an exercise price of $3.30 per share.

Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,824,783 shares issued to date.

Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

ON BEHALF OF THE BOARD OF DIRECTORS:

R. Nemis, President and Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT:

Noront Resources Ltd.Richard NemisPresident and Chief Executive Officer(416) 864-1456(416) 367-5444 (FAX)Email: info@norontresources.comWebsite: www.norontresources.com


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

 

[LOR]

Tuesday morning thoughts from TradingChief

Good morning. Overseas the Asian indices fell to their lowest level in more than a year, as resource stocks took a big hit, because of a slump in oil and metal prices to multi-month lows. In Europe the indices are rallying as oil fell to a 3 month low at $118 a barrel. The financial stocks are leading the rally following better than expected results from Societe General. It is a big day on the economic calendar as we get the ISM Services numbers at 10 am followed by the FOMC Policy Statement at 2:15 pm. It is widely expected that interest rates in the US will be unchanged. The early futures numbers are suggesting a very positive opening for the US indices. The slide in commodity prices may not bode well for the Canadian indices unless the financial stocks can pick up the slack.

Back in McFaulds Lake, NOT finally had a close above its 50(MA), its first since April. If NOT, can now form a base, above this important moving average, it can take a run at the next major resistance point, its 100(MA) around the $4.25 level. The one problem for NOT's share price, in the short term, is that base metal stocks in general are under selling pressure. Of course the market is still rewarding those stocks that come up with above average assay results. However, investors in the sector, have short memories and need a constant flow of news to hold the gains from any good news.

NOT has numerous things on its plate currently. The recent discovery on its AT-12 anomoly is expected to give a boost to NOT's share price shortly. The rumour mill is suggesting the AT-12 discovery visuals, looks a lot like the Eagle One discovery. Of course we will need assay results to confirm. NOT is also back drilling on FNC's doorstep, any added tonnage to the Eagle One discovery would obviously be a bonus. The word from Nemis, is to expect a 43-101 resource estimate from the Blackbird One discovery by August 15th. Currently the market appears to be giving very little value to NOT's market cap from this chrome deposit. Nemis has been reported telling several investors that he believes the chrome deposit to be worth somewhere in the neighbourhood of $15 billion. Sounds like pretty lofty numbers, but if it is anywhere close to those kind of numbers, it is hard to imagine NOT's market cap staying at current levels. NOT's recent decision to use VTEM results, to identify future drilling targets is also a definite plus. The story goes, once NOT received VTEM survey results, they quickly moved to drill the AT-12 anomoly. So far so good, using the VTEM's as AT-12 was a big hit if visuals are any indication. Apparently VTEM's work much better in pinpointing drill targets than the EM surveys, in McFaulds Lake.

Today is the day that PRB investors have been waiting months for. PRB just released a news release minutes ago explaining their, just completed McFaulds West drilling program.
Quote:
Diamond drill holes **-02 and **-08 identified a thick (over 80 metres) peridotite intrusive body, which closely resembles the host peridotite of the Eagle One nickel-copper discovery. The holes were designed to test a number of discrete geophysical anomalies identified through the ground program, however, the anomalies were not explained by the amount of sulphides observed in the core and further work is required.


Lots of big words in the above statement from PRB, but I have to admit not sure what they mean. This is one of the most confusing news releases I have ever read. Even the assay results from the Victory project have no actual assay numbers. It says the assays returned anomalous values of nickel, copper, platinum and palladium throughout the section. Actual numbers would of been nice David Palmer. Anomalous means, not fitting into a common or familiar type, classification, or pattern; unusual.

Very disappointed in how PRB wrote up todays news release. I'm sure the market is not going to like todays nr any more than I do. Often if a company is using such big words that their news release is hard to figure out, they are doing so because they are trying to hide the disappointment that is in the news release. First thoughts about todays news release from PRB is the results were poor at best. JMHO

FNC should also be in play today. It is expected drilling will commence on this property today and will be followed up by a news release from Peter Smith, either today or tomorrow. The news release was supposed to be today, but knowing Smith, we better give him an extra day. Once drilling has actually started I expect FNC's share price to be very volatile. From an investors recent phone conversation with Peter Smith, it was reported Smith was very happy with the results from the VTEM survey. This will be the moment of truth for Peter Smith, he has continually stated his belief that FNC's property has 2/3rds of the Eagle One discovery. With only 27.5 million o/s shares, a hit by FNC, with NOT like assay numbers and this stocks share price will go ballistic. JMHO

MTX/WSR's share prices came back to earth on Friday. We had a one day share price run up on rumours of another hit on this property. Then without a follow up news release the stocks sold off a little on Friday. We should be getting assay results from this discovery shortly. Lots of rumours about this discovery being a big hit. But the shortage of news to explain it, is doing nothing for the share prices in the short term. At one time the stocks in McFaulds Lake were throwing out news releases when they found a pretty stone, now everything is hush, hush. At times it is hard to explain what is going on in McFaulds Lake.

We should be getting rumours shortly from BMK's drilling program. If history is any indication of the future, BMK ran a leaky ship on their last drill program. It is my understanding BMK plans to drill on 5 different anomolies in this drill program. Hopefully they learnt something from their last drilling fiasco about the geology of the area and we will see much better results this time around. BMK's share price is so badly beaten down at present, the risk/reward looks very good. JMHO

I answered a question about FWR on its board yesterday, here is a link to that post. Remember this is only my opinion.

http://tradingchief.com/en/stboard.php?page=read&pid=31333


There is lots happening in McFaulds Lake currently with numerous drill programs under way. It is just a matter of time before a discovery of significance is announced is my belief. Anyone who bets on the right stock could/should do very well when the needle in the haystack is finally discovered. Lots of risk, but the reward, is a potential big pay day for those that get it right. JMHO

Best of luck to all McFaulds Lake investors.




Al

 

[LOR]

Here is Noront's West Coast Presentation, worth the time to look it over!

West Coast Presentation



some info on the chrome from NOT check out page 12,or 13 http://www.http://www.norontresources.com/investor/noront/2008-Jul30-Presentatio
n.pdf

 

[LOR]

Looking through todays carnage from tradingChief

I still like FNC as a spec play. Should be lots of volatility in FNC over the next few weeks. I look at any share price weakness, this week as a buying opportunity.

NOT is the known in the ROF, it has proven resources so has a floor under its share price so to speak. Plenty of upside potential in the near term. The 43-101 on the Blackbird One deposit, will put the next floor under its share price. Then we also have the AT-12 discovery to look forward to shortly. Also NOT is rumoured to be drilling on the border of FNC's property, this could add tonnage to the Eagle One deposit, so nothing but upside potential drilling this one. Not much downside risk, if it misses. Toss in numerous anomolies yet to be drilled once the VTEM's are checked, to find the very best drill targets. What all this tells me is there is tremendous upside potential in NOT's share price still. I look at any share price weakness as a buying opportunity currently on NOT. In fact I picked up some more today.

PRB missed on its McFaulds West property and the share price took the brunt of it. It also appears the Victory property is a dud. The assays were so bad they didn't even list the %'s of mineral content. That is the old game of trying to sweep the dirt under the rug. I expect PRB's share price to get the same treatment as BMK got, when they missed on their drill program. There share price to this day has never recovered. Thats the problem in McFaulds Lake, we aren't in the speculative discovery stage anymore, we are in the show me phase. You miss on your drilling program during this phase and the market severely punishes your share price. You can stick the fork into PRB's share price now, until they can prove the market should think otherwise. I owned PRB going into todays news release, I took my lumps and sold at the open at $.40 and I won't be returning any time soon. BMK should be a good history lesson for everyone, on what happens to a stock and how the market treats it, once it disappoints. My theory is take my losses and move on, I have no desire to be a bagholder.

The rest of the McFaulds Lake stocks are very risky right now. Most likely, FWR is the best bet, of the remaining stocks in the short term. As long as your stock hasn't disappointed the market and is going to be drilling shortly, there is still hope. Just because we had a bad day in the markets today, doesn't mean the McFaulds Lake stocks are to be avoided. In fact the opposite is true, look at days like today as buying opportunities. JMHO



Al

 

[LOR]

Wed morning thoughts from TC

Good morning. The Asia/Pacific indices were up sharply overnight led higher by exporters as a sharp drop in oil prices eased concerns about inflation. The major European indices are also showing mixed results as mining stocks and energy stocks have rebounded. However financial stocks are putting in a mixed performance showing they have not yet stabilized. Many investors believe the banks stocks are still in for a rough ride for the foreseeable future. On the economic calendar for today, we get the all important Crude Inventories numbers at 10:35 am, followed by the Consumer Credit numbers at 3 pm. Hopefully the rebound in mining stocks in Europe, will help end the slide in the Canadian indices. The early futures numbers are pointing to a flat opening with a downward bias for the US indices.

Back in McFaulds Lake, the sharp slide yesterday in the Canadian indices carried through to the McFaulds stocks and they had a terrible day. NOT's share price not only failed to stay above it's 50(MA), but it also closed below the support of it's 13(MA). It did not appear there was any bad news from NOT to cause yesterdays slide in the share price, but it was the weak performance by mining stocks in general and NOT got caught in the downdraft. Hopefully we get the expected rebound in mining stocks today and NOT can regain it's 13(MA) as a support level.

Nemis has stated he expects the 43-101 for the Blackbird One chrome deposit to be completed on or before August 15th. So sometime next week we should finally get the scoop on just how important this discovery really is. Currently the market is having troubles coming up with a valuation for Blackbird One and what it really means to the market cap of NOT. Nemis has publically stated he feels the chrome deposit is worth $15 billion, however I see all the conversations with Nemis to the numerous investors he told this to, have been deleted on Agoracom. Ahh the power of censorship. If Blackbird One is anywhere close to being worth what Nemis claims it to be, NOT's share price is the most undervalued stock on the TSX-v exchange, bar none. Although I usually take Nemis's outrageous pumping statements with a grain of salt, I have been adding to my position in NOT on a daily basis, just in case. My rough calculations tell me NOT's share price should be over $13 if Nemis's statements prove to have merit.

I have two thoughts on Nemis and his $15 billion Blackbird One, valuation statement. One, if he is correct, the BCSC should come down hard on him, for passing insider information to a select few of his closest buddies. The second thought is the BCSC should come down hard on Nemis if he was bs'ing and trying to pump NOT's share price up with false statements. Either way, I feel Nemis should be removed in his position as the President of NOT. A publically traded company on the TSX-v exchange, can not afford to allow a President of a company to pump his stock, like Nemis has been allowed to do. Going back over some of his statements, I remember him telling his investors that NOT could do a PP at any time for a minimum of $10 per share, it wasn't long after this statement he surprised his investors and did a PP at $4 per share. Another time, he told an investor to hold on to his shares of NOT, the stock was worth at least $28 a share, well here we sit months later with a stock that closed yesterday at $3.15, should that investor still hold on Nemis and wait for the $28 share price? The problem with allowing Nemis to get away with these statements is many investors take his word as gospel.

PRB disappointed its investors yesterday. Apparently the Victory project came up with nothing of significance in its assays. To make matters worse, the McFaulds West drilling program also came up with nothing of importance. PRB's share price took a big hit and was down over 45% for the day. We may get a small bounce today, but I can see this stocks share price drifting even lower in the coming weeks. PRB will most likely go the way that BMK did, when they drilled and came up with disappointing results. In the current market environment once you disappoint with your drilling program, nothing but stellar results from your next set of assays, will bring investors back into the fold. It was a sad day for PRB investors but you can't win them all. Sometimes you just have to cut your losses and move on. Sitting on dead money when other stocks around you are moving in the resource sector, is not something I practise. I cut my losses at the open yesterday and sold my shares at $.40 and took the loss.

FNC's share price held up fairly well during yesterdays carnage. I have heard to expect further delays in drilling, that perhaps we may get a news release from Peter Smith later this week to announce the drilling program has commenced. The one thing about Smith, he never seems to get into a hurry to do anything. Very aggravating for his investors, but his slow and steady approach, with no needless pumping of his stock, is a welcome respite from the tactics of NOT. Get that drill bit in the ground Peter, after yesterdays huge dissappointment from PRB, McFaulds Lake needs a big hit from FNC, to get these plays back on investors radar screens.

FWR's share price also held up fairly good yesterday, closing down only $.005 on once again decent volume. FWR needs to get its share price up over the $.30 level, to churn out some of those cheap PP shares. Once the $.30 level is cleaned up, there is another group of PP shares from $.35 that need to be churned through and this stock is ready for the races. Lots of things on FWR's plate, so its not a one trick pony. What FWR needs, is some good assays from NOT, on its AT-12 discovery, to cause some excitement and get its share structure cleaned up. The AT-12 discovery is on FWR's doorstep and many feel the bigger part of the discovery is actually on FWR property. FWR and NOT have a close working relationship, so there should be none of the games played like the FNC/NOT boundary has seen. For longer term investors the current weakness in FWR's share price may be affording a good entry point. But it appears it will take some patience before this stock pays off. JMHO

I will try and do some follow up on MKR next week. It has some excellent looking properties that should be in the news shortly in McFaulds Lake. NRN also looks promising and is followed by a few that post regularly on this board. I will let them keep you informed on whats happening with this stock. From what I have been told, its one stock worth keeping a close eye on as it's story unfolds.

Best of luck to all McFaulds Lake investors.




Al

 

[selkirk]

agree with TC Nemis should go, like the boy who cried wolf, or is promotional times 100.

nothing wrong with belief you compnay is the best ever, however should not make wild claims,...could see voisey bay two claim since the stock is on a run, and had some good results...still was seen as very promtional

not sure why managment did not run the printing press on new shares when they were around 7 during all that hype, would have made sure did not need any more funding for two-three years.

thanks
selkirk

 

[LOR]

Thursday morning thoughts from TC

Sorry about the delay with morning thoughts this morning, I have been having ISP problems all morning. I just got back online.

Yersterday, in McFaulds Lake, NOT's share price was under selling pressure and ended up being down over 3%, for the day. NOT had the lowest volume day since early May, as mining stocks were once again, out of favour with investors. NOT has once again, lost the support of its 13(MA). We could get a test of recent lows in July, without some news to get investors attention once again.

We should be getting an update from the AT-12 anomoly drilling shortly. The last I heard from drilling on this anomoly was the 3rd hole had come up with core that looked liked Eagle One hole #5, which would be a barnburner, if true. By now they should have a few more holes punched into this anomoly, but the flow of information from drilling has pretty much dried up. The news I am excited about, is the 43-101 from the chrome discovery, from Blackbird One. We have been told to expect this by August 15th, so the long wait to finally put a valuation on NOT's chrome deposit should arrive sometime next week. Hopefully once the 43-101 is released a new floor can be put under NOT's share price and some ot these gut wrenching down moves, at such low share prices, can be a thing of the past.

FNC's share price continues to show strength when all else around it in McFaulds Lake, is getting hammered. We have the shorts to thank for this, as they are slowly covering, before FNC starts their much anticipated drill program. As of July 31st, FNC still had 316,673 shorts, so they have a long ways to go yet. The story with drilling, from FNC, is they are experiencing delays getting this drill set up, as it is one of the bigger drills. A monster compared to some of the other drills in McFaulds Lake and needs to be assembled in pieces, using helicopters. FNC plans on doing some deep drilling on this property, they only have so much money to spend on this drilling program and they want to do it right, the 1st time.

Investors that have talked with Peter Smith recently, claim Smith is very excited about his chances of hitting the big one with this drill program. The VTEM surveys are showing some excellent drilling spots, is the word out of FNC. Once drilling has started, we are told to expect a news release, to announce it. There have been numerous mini delays getting this drilling program up and running, however all good things are worth waiting for, or so the story goes. McFaulds Lake badly needs FNC to come up with a discovery of significance to get investors attention again to this area.

David Palmer of PRB, did an interview yesterday to help explain the McFaulds West property, drilling program. A copy of which has been posted on this board by a poster with the alias of phats. It is well worth the listen to, for those that still believe the best is yet to come for PRB. The one problem for PRB investors is they will now have to wait for a VTEM survey to be completed before any further drilling of this property will be done. For those wanting to take a position in this stock, I would wait for further share price weakness to slowly accumulate some shares on the cheap. No hurry getting into this stock now with the drilling delays. It will most likely be late fall before any further drilling can be expected. For those that are still in PRB, you apparently, are sitting on dead money for the time being. Current PRB shareholders only need to take a look at BMK, to see what happens to a stock that disappoints. JMHO

The MTX/WSR discovery, still has investors waiting for assay results. It appears they are slowly throwing in the towel and the share prices are doing the slow bleed. I have a hard time understanding how it can possibly take this long, to get assay results back from the lab. It only took PRB 3 weeks for results. Here its been almost 2 months and still nothing yet. After two quick halts, to announce visuals, one saying they discovered 131.9 Meters of Semi-Massive to Near-Massive Sulphides, this play has gone strangely silent. Last week this play picked up the volume and the share price spiked, on rumours of another hit. So we know there are many investors with their eye on this play. For those looking for a good risk/reward opportunity, picking up shares on share price weakness, during this quiet time, may offer a decent payday shortly.

There is not much else happening with the McFaulds Lake stocks currently. However with so many drilling programs underway or just about to start, we could get a surprise at any time. It is my belief, with so many millions of dollars being spent on all these drill programs by numerous companies, it is just a matter of time before the next discovery of significance hits the newswires. The risks are high, but the rewards will be even greater, for those that get lucky and put their money on the right stock.

Best of luck to all McFaulds Lake investors.


Al

 

[LOR]

Hi selkirk, The Annual General Meeting is coming up on NOT and Pinetree Capital boys could be looking to make a power play and get rid of Richard. This is pure rumour from a completely different source than the guy that has shared other info. Rumours are they may split off the ROF from the rest and Richard may stay with the Windfall Project and someone else will be put in charge of the ROF so they can take this to the next level.. Seems a lot of people feel Richard is an explorer/promoter and is in way over his head now with the project entering the developmental phase. They need the likes of Anglo (South Africa) who want to diversify out of Africa into a more stable environment.
It will be interesting to see how this plays out over the next month or two. I know I enjoy reading the phone conversations people have with Richard, kinda keeps things exciting while waiting for a NR.

 

[LOR]

FNC drilling from the source

FNC should start drilling this weekend on their property which is very near to DE1. If they hit some good holes ( 3 drill holes are planned) then the FNC and NOT will lead everything higher. I particularly like the tight share structure on FNC. Give me 20-30 meters of massive sulphides and we could see $4.00 in a heartbeat on FNC and NOT.

 

[LOR]

Friday morning thoughts from TC

Good morning. On the overseas markets in Asia and Europe the major indices are mixed but basically flat. Healthcare stocks are the best performing sector, with banks mixed and commodity stocks being the worse performing sector. Falling oil prices are easing concerns about inflation and now there is talk about ECB rate cuts later this year, which is giving the $US renewed strength. On the economic calendar for today we have Productivity-Preliminary numbers for the 2nd quarter at 8:30 am, followed by Wholesale Inventoriies numbers at 10 am. No real market moving numbers for today. The early futures numbers are pointing to a positive opening for the US indices. The weakness in commodity stocks should keep the Canadian indices under selling pressure.

Back in McFaulds Lake, weakness in the commodity stocks in general, is certainly not helping any of these stocks. NOT continues its slow bleed and is now trading under all its major (MA)'s. NOT needs to bounce back over its 13(MA) at $3.12 and fast or risk testing the recent lows of July. The next support level for NOT is at $2.83, a failure to hold that level and the $2.50 area would be the line in the sand. A break below $2.50 and a test of the July lows is probable.

What NOT needs right now is some news. Either from the drilling front, or the much anticipated 43-101. The 43-101 not only will put a floor under NOT's share price, but it has been promised that included in the 43-101 will be some sort of report, from the chrome deposit, of Blackbird One. Prof Mungall will be responsible for providing the update on the chrome deposit. I honestly don't believe the market has any clue on how to put a valuation on this chrome discovery. So any update to just how important this chrome discovery is, will be most welcomed by the shareholders of NOT.

On the Agoracom NOT board, there has been talk that Nemis said the chrome deposit, should have a value of $15 billion. Also that a valuation would be included in the upcoming 43-101. I went back to check on Agoracom for past posts, as it has been brought up here, that no where in any news release has it been stated the 43-101 would include any sort of valuation on the 43-101. Well most of those posts have been deleted by the Agoracom censorship team apparently. I asked around to some fellow investors and yes they read the same thing as I did. In fact the $15 billion number was reported by several posters on Agoracom as coming up in conversations with Nemis. If memory serves serves me correct, two of the leaders on the Agoracom board, glorieux and Canseco both reported the $15 billion figure in talks with Nemis. Also I believe it was reported by a couple of other posters in their conversations with Nemis. At times you have to read the Agoracom postings fast to get the scoop, because so many are deleted by their censorship team. Anyhow, enough said about the Agoracom board, we should find out sometime next week, in a news release and put this entire chrome discussion to bed, for the time being.

MKR continues to be an interesting stock that should be watched by McFaulds Lake investors. I will try and do a follow up story on this stock sometime next week. I have not phoned the company yet, as I wanted to wait until the MEGATEM survey is completed on their West Rim Nickel Property. Sprott obviously thought MKR's story had some merit as they recently completed a bought deal PP financing at $.20 with MKR. We should see some drilling announcements from MKR soon, on both their East and West Rim properties. These properties are right in the centre of the ROF and I have seen reports that these properties have a good chance of being the source of the nickel mineralization in the ROF. This could be the sleeper stock in McFaulds Lake. JMHO

The MTX/WSR story continues to drag out. Still no assays from this discovery. Drilling is reported to be going 24/7 with 2 drills on this property, but the flow of news has all but dried up. Once those assays are announced, we should be able to get a better handle on just how significant this story really is.

FNC is showing on the latest short report, there are still many shorts that need to be covered. The delays in drilling has given the shorts time to slowly cover as to not cause the share price to go through the roof. One area of concern to me, is that once the shorts have covered, who will be left to keep the share price propped up. Most investors that are following this story, have their shares and aren't selling or buying. With such a low number of o/s shares it may be easy to manipulate the share price down, once the buying pressure from the shorts covering is over. Latest news from FNC is they are putting the final touches on assembling this deep drilling rig. Actual drilling should start shortly and we should see an announcement via a news release from Peter Smith early next week. Hopefully we get no more delays from Billiken on drilling this property, as it is looking like a soap opera that never ends. McFaulds Lake badly needs FNC to come up with the motherlode on this drilling program to get investors interested in these plays again.

A high grade nickel discovery from FNC and NOT's Eagle One discovery becomes viable to being turned into a mine at some point down the road. There is just as much at stake for NOT on this drill program as there is for FNC. The announcement from FNC, that they will be doing a one for one share offering, to holders of FNC, to a new company called Magpie, does offer a clue. It tells me if FNC hits with this drilling program, they most likely will put this property up for sale, with NOT being the most likely suitor. If a major was to buy the FNC property, it certainly would give us a clue as to NOT's fate down the road. I know this is putting the cart before the horse but it does give us something to think about and perhaps something to discuss further.

Best of luck to all McFaulds Lake investors. At times investing in these McFaulds stocks looks bleak, but the old adage the calm before the storm, comes to mind to best describe the McFaulds Lake story. JMHO





Al

 

[LOR]

Word out of the field,

Target looks to be down 400-600 meters. 2-3 days per hole as a rough estimate



FNC should start drilling this weekend on their property which is very near to DE1. If they hit some good holes ( 3 drill holes are planned) then the FNC and NOT will lead everything higher. I particularly like the tight share structure on FNC. Give me 20-30 meters of massive sulphides and we could see $4.00 in a heartbeat on FNC and NOT.

 

[LOR]

Monday morning thoughts from TC

Good morning. Overseas, the Asian and European major indices, are all positive this morning. It appears to be a broad based rally on continued strength in the $US. The $US hit a six month high against the $Euro as it is appearing the $US's long term decline has bottomed. The supercycle in oil and commodities is running out of steam, helping stocks and bonds, as economic growth around the world slows. There is nothing on the economic calendar for today. All eyes will be on the POO today, to see if the troubling times in the Georgia/Russia conflict will reverse the recent declines. If the POO can't bounce higher and sustain it, with this type of conflict and being in oversold territory, it may have a long way to fall yet, before it finds a bottom. The early futures are pointing to a higher opening for the US indices.

Back in McFaulds Lake, last week, NOT suffered through a miserable week, on well below average volumes. It's share price did the slow bleed as commodity stocks in general took a hit. NOT currently sits below all its major MA's and needs to bounce atop it's 13(MA) at $3.12, to bring this downtrend to a halt. As long as NOT can stay above the low $2.80's the series of higher lows and higher highs, formed over the last month, keeps the reversal intact on its chart.

I'm personally looking forward to the expected 43-101 this week, from NOT. Supposedly included in this 43-101 will be an update from Prof Mungall, explaining in detail the importance of the chrome discovery in Blackbird One. There is lots of confusion from investors just how this chrome update will be included in the 43-101. If the on or before Aug 15th promise from Nemis is indeed fact, we don't have long to wait. Also this week it's possible we get an update from the AT-12 discovery. The last update on the AT-12 discovery was on July 17th and at that time we were told they had found over 29 meters of copper-nickel mineralization in the first two holes drilled on this anomoly. Assays were pending, so we could be getting news from this front shortly. Since that discovery announcement the rumour mill has been saying the 3rd hole drilled had come up with core samples that looked like Hole #5 from the Eagle One discovery. If true, we should be in for some exciting times, when this news is formally announced in a news release. With so much on its plate, the risk/reward at current share prices looks good to me. The downside risk looks minimal and the upside reward looks very tempting. I plan on adding to my position again this week.

FNC supposedly started drilling on the weekend if all went to plan. We have been told to expect a news release from Peter Smith today to make this announcement formal. On Friday on the insider report it was reported Peter Smith was once again selling shares, over the last couple of weeks. Not exactly an encouraging sign from the President of a company just before drilling is about to get started. The upside I suppose it was only $75k worth of stock, hardly making a dent in his large holdings of shares. Also I suppose we should remember the guy has to make a living, much like we do and his hands are tied to when he can sell once drilling starts. The real discouraging part of this selling to me, is it affords an opportunity for the large number of shorts on FNC, to cover at a time when they are on the ropes. This is the most anticipated drilling program in McFaulds Lake in 2008 and one that can put this entire area, back in play with investors, if a discovery of significance can be found. Personally I think this will be Canada's top mining story of 2008 when all is said and done. With only 27.5 million o/s shares, the share price should be volatile and I will not be surprised if we see new 52 weeks on this stock over the next couple of weeks. Best of luck to the many long term holders of this stock.

The MTX/WSR play still mystifies me. Where is the assay results from this discovery? I have no idea how the assay results could possibly take this long to be reported. There are still two drills going 24/7 on this drilling program, so they must have numerous holes drilled by now. The word from this play is they have built a huge drilling camp and the flow of building materials and fuel supplies to the camp, has been incredible. Perhaps the core samples had to be re-assayed is one possibility I suppose. Watch the volume closely on WSR for clues. We had a false alarm on July 31st, but the sudden volume surge on rumours shows many investors are watching this play closely. Once again BMK, DSP, MKR and TME are the proximity plays with the most to gain if the assays are very good from this discovery.

FWR's share price just can't seem to get over the hump in this weak market for resource stocks. The good looking 100% owned anomoly is expected to commence drilling at the end of this month as reported in their last news release. The proximity to NOT's AT-12 discovery could also give this stocks share price a boost, if the assays come back as good, as many expect. FWR has property with part of that anomoly on it, so good news for NOT is also good news for FWR. The major drawback for FWR's share price currently, is the over 15 million shares that are free trading from the $.30 and $.35 levels from past PP's. The huge amount of paper overhang, is the only thing holding me back from owning this stock currently.

The big stories in McFaulds Lake right now is the expected news from NOT and the drilling program of FNC. These two stocks should keep investors interested in the McFaulds Lake story, for the next couple of weeks. JMHO

Best of luck to all McFaulds Lake investors.Al

 

[LOR]

Tuesday morning thoughts from TC

Good morning. Overseas this morning we find the major Asian indices all in negative territory. In Europe the major indices are basically flat, with a positive bias. The European indices were negative but turned around once Russia announced its military operation in Georgia had ended. Mining stocks and energy stocks continue to be the biggest losers in the European indices currently. The $EURO has fallen to six month lows against the $US on concerns that Europe is headed for a sharper economic downturn than the market had first anticipated. Commodity prices continue to fall as the $US rallies. On the economic calendar not much to change the direction of the markets today, as we get Trade Balance numbers at 8:30 am, followed by the Treasury Budget numbers at 2 pm. The early futures are pointing to a negative opening for the US indices. The continued slide in commodity prices doesn't bode well for the Canadian indices again today.

Back in McFaulds Lake, the entire basket of stocks are suffering in this downtrend, as they follow the weakness in base metal stocks in general. It is hard to predict when we will see the bottom in the commodity stock sell off. For those with cash, the sell off does afford the opportunity to slowly pick up some of the better McFaulds stocks like NOT, hopefully at bargain prices.

Sometime this week we are expecting the 43-101 to be released from NOT on the Eagle One deposit. Nemis had promised we would see the 43-101 on or before August 15th. Since we basically know what the Eagle One numbers look like I wouldn't expect this document in itself to do much for NOT's share price in the short term. However, if the 43-101 includes some sort of valuation on the Blackbird One chrome deposit, it could change the direction of NOT's share price. Many traders often say expected news is already factored into the share price before it is released to the market. In this case I don't think they are correct, as it appears the market is putting no value on the chrome deposit into NOT's current market cap. With Nemis claiming the chrome deposit is worth $15 billion and the market claiming it is worth nothing, we have lots of leeway for share price appreciation.

Unfortunately I was stopped out in my position in NOT yesterday at $2.80, as that was my line in the sand, that the share price had to hold. I had just started taking a position in NOT last week and had plans to add to the position this week. Personally I would rather pay more for a stock when the share price has reversed to the upside, than risk holding onto a falling knife. NOT's share price must now hold the recent lows at $2.46, or risk testing the $2.12 mark, which was the early July lows. One of two situations will get me to buy NOT again, a double bottom bounce of the early July lows at $2.12, or a break back atop the 13(MA) around the $3.10 mark.

I think NOT is undervalued at current share prices, but it doesn't matter what I think, the market rules in these situations. For those with a long term view of holding NOT I would just treat this as another blip in the market. This latest downtrend is not bad news related, if you liked NOT at $5, you should love it at current share prices. Often when we look back, times like this are opportunities to add to your positions at bargain prices. JMHO

Yesterday, investors finally got news from Peter Smith of FNC, that drilling is now underway. This news couldn't of come at a worse time, right in the middle of a market melt down. However, investors in FNC, should see this as a positive development for FNC going forward. Now that drilling has started, I would not be surprised to see FNC announce a PP at any time. FNC needs money if it plans to keep drilling on this anomoly. Currently I believe FNC has enough money to drill 4 holes, possibly 5, depending on how deep this drilling program needs to go. If indeed a PP does occur, there are two scenarios that could come into play here. One is FNC does a PP internally, with insiders doing a bought deal financing. The other would be for FNC to go to the market to raise funds. It would raise a red flag to me, if a PP was done on the open market. My theory would be the drilling program was finding nothing of significance. If we see a PP bought up by insiders, I would expect the drilling results to be a barnburner.

There is one other possibility for FNC to raise funds to continue drilling and if this scenario plays out, I would be buying as many shares of FNC, as my bank account would allow. Before drilling started, FNC announced it had granted 750,000 option shares to its insiders at a price of $1.90 per share. If insiders exercised these options it would add $1.425 million to FNC's bankroll. Obviously enough money to continue drilling. FNC has covered all their bases, in the event this drilling program does come up with a significant discovery. I am not sure of the legalities of doing a PP while drilling, so these scenarios are open for further discussion on this board. I'm definitely interested to hear what others have to say about FNC's current options for raising funds. I always found it odd why FNC never took the opportunity to raise funds via a PP at an earlier date. Perhaps some of the above scenarios offer explanations.

Also be aware that FNC has previously announced a shareholders rights plan, in the event of a takeover bid. If FNC does discover something of significance, and someone takes a run at FNC, shareholders have the option to purchase up to 20% more shares of the amount they currently own. Interesting times for FNC shareholders.

I will end todays morning thoughts with only covering NOT and FNC. In the current market meltdown for junior resource stocks, its obvious the share prices of the McFaulds Lake stocks are under selling pressure. Hopefully we will see a market bottom for these types of stocks shortly. Many of the McFaulds stocks have such low volumes of shares traded in these times, it doesn't do them justice to cover them anyways. For those that like the possibilities of some of these McFaulds Lake stocks, times like this, do offer the opportunity to buy at bargain prices. Predicting the absolute bottoms for these stocks is an impossibility, so don't even try. Opportunity knocks, it is what you do with this opportunity that counts.

Best of luck to all McFaulds Lake investors.





Al

 

[LOR]

Wed morning thoughts from TC

Good morning. Overseas the major Asian indices sold off in the 2% range today, when Japan announced its economy had shrunk by 0.6% in the Q2. The fear is Japan the worlds second-largest economy may have slipped into a recession. In Europe the major indices are down on renewed worries over credit losses in the financial sector. The losses are less than in Asia because of strength in mining stocks as metal prices improved. Financial stock shares tumbled overnight after JPMorgan announced it had racked up $1.5 billion of losses so far this quarter on mortgage-linked assets. It is a busy day on the economic calendar as we get Export Prices, Import Prices and Retail Sales numbers at 8:30 am. At 10 am we get the Business Inventories numbers. Then at 10:35 am we get the all important Crude Inventories numbers. So lots of market moving numbers for today, it should be an interesting open. The early futures numbers are pointing to a negative opening for the US indices, but the economic calendar numbers, later this morning, should set the tone for how the US indices open. The strength in commodity prices may help the Canadian indices reverse their recent declines.

Back in McFaulds Lake, once again NOT suffered through a sell off day as mining stocks in general were selling off. NOT's sell down was muted, as it was on low volume and it was just following the mining sector sell off and wasn't news related. NOT's share price has now had 6 trading sessions in a row of losses. The strength in mining stocks in Europe this morning should help NOT reverse this recent down trend. Looking at NOT's chart a bullish Doji Star pattern has formed which often signals a bullish reversal pattern. If NOT opens higher than yesterdays close, it would confirm a reversal is NOT's trend, to the upside. The first important hurdle for NOT to overcome, would be to regain the resistance at $3.10, of it's 13(MA). A close over $3.16 the 50(MA) would be confirmation to me the worst is behind NOT's share price and a run to test the 100(MA) at the $4 level is certainly possible. When the 13(MA) crosses over the 50(MA) it is often a technical indicator for traders, to go long a stock. Using patience and waiting for buy signal confirmations, certainly takes some of the risk out of playing stocks like NOT. For those looking to further reduce risk, taking a 1/3 position today, if NOT opens above yesterdays close, or moves above yesterdays closing price, shortly after the open, would be a safe way to play it. Then wait for NOT to move above it's 13(MA), before taking another 1/3 position. Then take your final 1/3 position when/if NOT closes atop its 50(MA). Everyone plays the market differently, but I always have a line in the sand sell point, after I take my initial 1/3 position. No one is right on every trade. Using a money management strategy and taking small losses, avoids you becoming a bagholder down the road and keeps you in the game. JMHO

Every day brings us one day closer to the much anticipated 43-101 news release from NOT. It is not so much the 43-101 on the Eagle One deposit everyone is waiting for, but its the inclusion of the chrome deposit valuation that will supposedly accompany this 43-101 that has piqued my curiosity. We could also get news from the AT-12 discovery or rumours from the border drilling with FNC at any time. There is also talk that NOT is currently in talks with a major to take a piece of NOT. I remember long ago Nemis saying this McFaulds Lake project was much too complicated for a small company like NOT to take this thing into production. So having a major come aboard at this time to offer their expertise certainly wouldn't surprise me. With so much on NOT's plate currently, I just can't see the share price staying at these bargain basement prices, much longer. Personally the upside potential far exceeds the downside risk is my take of NOT currently. However, once again just my opinion.

FNC's share price is a big surprise to me this week. After finally getting drilling confirmation, I figured speculative fever would occur. Perhaps it is just the weak resource stock market right now that has investors standing on the sidelines. The surprise is how the shorts haven't rushed to cover. What do they know that us retail investors don't? The low volumes of shares trading is the remarkable thing I am having troubles coming to grips with. Of course most retail investors that want into this play already have their positions. So who else other than the shorts, that want to cover, are left to buy this stock currently? Perhaps the brokers are laying off putting in bid orders, hoping to scare the retail investors into puking up their shares in a panic. In this way they get to cover their shorts at bargain prices. The current trading pattern of FNC has left me thinking, expect the unexpected. I still think that at some point in the very near future, we will see FNC's share price take off and the possibility of seeing new 52 week highs, before we ever see the drill results is highly probable. Once again, just my opinion.

I have heard some investors are predicting FNC may discover chrome and not nickel as others are expecting. Looking at the old EM surveys I highly doubt this possibility. It looks to me this anomoly on FNC property is just an extension of the Eagle One anomoly. It would be a cruel twist of fate to think one part of the anomoly has some of the richest nickel, PGM assay results ever seen. Then the other part of the anomoly, on FNC's property would have only chrome. We shall shortly find out, of that we can all be assured of. FNC the mining story for Canada in 2008 is still my prediction.

BMK's share price is still under selling pressure. After their last drilling failure, investors have avoided this stock like it has Aids. However BMK is currently drilling, at some point one would think there will be some sort of a bounce in the share price. Just on their huge land position alone in McFaulds Lake, you would think the share price would be higher than current share prices. I agree the last drill program results were terrible, but one has to believe the geologists of BMK learned some valuable information from it. I may be missing something here, but the downside risk of BMK at current share prices looks minimal to me. I am thinking of taking a small position in this stock shortly.

PRB as expected continues to sell off. I'm not sure what investors seen by doubling up their positions after the last disappointing drill results. It will be months before PRB ever drills the McFaulds West property again. To me, this is one stock to avoid for the time being in McFaulds Lake. So many better stocks in McFaulds with upside potential in the short term to play, than to have your money tied up in this stock. It is one thing to be a permabull on a stock, but at some point you have to pull your head out of the sand and be objective about some of these McFaulds Lake stocks. If a stock misses in their drill program, it is far better off to take your lumps early, than to sit on dead money that does the slow bleed. JMHO

MTX/WSR, I just toss my hands in the air and sit confused. Something is very wrong when a stock takes this long to come back with assay results. Someone needs to ask some serious questions with WSR management as to why these results are taking so long to be reported. If it takes this long to get assay results from a discovery hole, just imagine what is in store for you down the road. Throw up the big red flag on this stock, if we don't see assay results sometime this week. JMHO

I am still waiting for some answers to questions from MKR management. I will do a follow up on this stock as soon as I hear something. In the meantime, adding some shares on share price weakness, may be a prudent play for investors with a medium term time frame.

The current share price weakness in the McFaulds Lake stocks may be hard on the stomachs of investors at this time. Obviously this is because of the sell off in resource stocks because of weaker commodity prices. However I think this will pass. I'm not so sure the commodity bull market is dead yet. Nothing goes straight up forever, a breather should be expected, is my take of the commodity bull market situation. I have been wrong many times before and this is only my opinion, so take it for what it is worth, not much.

Best of luck to all McFaulds Lake investors.





Al

 

[selkirk]

LOR do not believe Anglo will be looking at NOT. or any seniors at this stage. not that the project does not have potential, it is just that there is other jr. and midcaps that they would buy before, that will be going into or have production.

NOT has to do more drilling and get the project to a final feasiblibility stage, or close, before a sr. will start sniffing around. a sr. would rather pay more later than risk 500-800 million on a specualation of an economic mine.

gold and the metals have been beaten so some of the sell off can be put on that, and the fact of a lack of news recently.

do not own any jr. mining stocks as of now, though are watching about a dozen and most of been clipped 20-40%.

thanks
selkirk

 

[LOR]

Thursday morning thoughts from TC

Good morning. Overseas the Asian major indices are mixed with the Hang Seng up around 0.5% and the Nikkei down around 0.5%. Fears of a recession in Japan the worlds 2nd largest economy are causing turmoil with the financial stocks in Japan. In Europe the major indices are all up sharply with strength in the commodity stocks. Mining and oil heavyweights are in rally mode as crude holds above $116 a barrel and metal prices are rising. The European indices should have a volatile session as they await economic data from the US early this morning. On the economic calendar we get CPI and Initial Jobless Claims numbers at 8:30 am. The early futures markets are predicting a positive opening for the US indices. The Canadian indices should do well on renewed strength in commodity prices.

Back in McFaulds Lake, NOT's share price ended its losing streak with a gain of 2.6% yesterday, after suffering through 6 losing sessions in a row. Yesterdays volume on NOT, was the lowest since the discovery of DE1 August 2007. Yesterdays close confirmed a trend change on NOT's chart, however the far below average volume is of concern. I expect NOT, to now have a share price run up and test the resistance of its 13(MA) at $3.05, possibly as early as today. A close atop the 13(MA) would be very bullish for NOT and a test of the 50(MA) at $3.14 seems probable shortly. You have to go all the way back to late March early April to find NOT trading above its 50(MA), so expect a struggle to get through this resistance point. It most likely will take news and above average volume. A break atop the 50(MA) and I expect a test of the 100(MA) around the $4 mark to soon follow.

We should get news today or tomorrow from NOT on the much anticipated 43-101 from the Eagle One deposit. The 43-101 has significance on two fronts, one we have been told we can expect it to also contain some important facts concerning the chrome discovery of Blackbird One. The second important point of 43-101 is, once it is released, NOT can then apply for a listing on the TSX. It is the last criteria that NOT needs to achieve, to get its name on the big board. Some are down playing the significance of NOT being listed on the TSX, but in my opinion, is this not the goal of every junior mining stock on the TSX-v exchange? A listing on the TSX brings an entire new set of buyers into the equation, not available to NOT currently. A TSX listing shows me, NOT has graduated from being a wantabe to the real meal deal.

Also of major importance to NOT, will be the release of the assay results from the AT-12 discovery. The distance from the Eagle One deposit doesn't do much for the tonnage issue but every pod of mineable ore discovered adds up. Once the dollar value of these discoveries hits a certain point, putting in the necessary infrastructure to mine these pods becomes viable. Obviously it would be better if it was just one huge deposit to mine, but we have to deal with the reality of the situation. A $2 billion pod here and another $2 billion pod there, all add up to making these McFaulds Lake discoveries a major mining camp of significance. If AT-12 becomes another pod of high grade ore, the naysayers no longer have relevance.

The chrome deposit of Blackbird One continues to get no respect or valuation towards the market cap of NOT. We have heard all sorts of valuations put on this discovery from various people who follow the NOT story. Not long ago Nemis was quoted as saying the chrome had at least a $15 billion valuation. Then we have heard from people that follow this story that, we could be looking at a valuation in the $40 to $50 billion range. Whatever the valuation comes in at, it can't be soon enough for investors in NOT. Just on this chrome discovery alone, if we come up with anything close to the $15 billion valuation, NOT's current share price is extremely undervalued. Just doing some quick, rough math, tells me a $15 billion chrome valuation would put NOT's share price around the $13 per share mark. At yesterdays closing price of $2.74 we can see NOT's share price has lots of appreciation possibilities in the not too distant future. It is no wonder, we are hearing Nemis has been in talks with a few majors, about taking a stake in NOT.

Perhaps I am missing something on NOT. But the risk/reward for investing in NOT at current share prices, sure looks tipped towards the reward side to me. JMHO

The interest in FNC has certainly waned this week. I realize the market is very weak for investing in junior mining stocks currently, but the low volume of shares traded has me baffled. Now that FNC is drilling one would assume we should be seeing some speculative fever. I get the feeling when we least expect it, the share price of FNC will take off to the upside and it won't look back. The VTEM surveys are pointing to FNC finding something of significance with this drilling program. Remembering back to the mania when NOT announced their Eagle One discovery, it is hard to understand what investors are missing about the possibilities of FNC having a hit here shortly. I look at any share price weakness, as a buying opportunity for those looking for a high risk play, with obvious high reward possibilities.

The rest of the McFaulds Lake stocks have very little interest from investors currently. Perhaps its just the summer time effect, or the fact the TSX-v exchange has taken a huge hit this year. What McFaulds Lake stocks need is another discovery of significance to get investors back in the fold. NOT or FNC could be the stock that brings investors scrambling back, in fact, I believe, its just a matter of time before that happens. Finding a major discovery is like finding a needle in the proverbial haystack. However with so many companies armed with metal detectors, that needle has to be getting close. JMHO

Best of luck to all McFaulds Lake investors.




Al

 

[LOR]

Friday morning thoughts from TradingChief

Good morning. Overseas the Asian and European are positive this morning. The fall in commodity prices is easing concerns about inflation. The strength of the $US should help exporters with the $Euro now at 6 month lows. Crude oil prices have fallen to the $113 level and the price of gold has collapsed to the $780 level. The gains in the European indices are lead by strength in banks, drug and airline stocks. On the economic calendar for today the NY Empire State Index numbers are at 8:30am, then the Net Foreign Purchases numbers at 9am. At 9:15am we get the Capacity Utilization and Industrial Production numbers. Then lastly we get the all important Michigan Sentiment Preliminary numbers at 10 am. The early futures are pointing to a higher opening for the US indices. The collapse in commodity prices will obviously put further downward selling pressure on the Canadian indices, unless they rebound before todays opening, which somehow wouldn't surprise me.

Back in McFaulds Lake, NOT had another positive day, but the close well below the days high is of some concern. At one point NOT tested the resistance of its 13(MA) but was met with solid selling at the $3 level. It is obvious it will take news and additional volume to break atop the 13(MA) and the 50(MA) which have basically converged. The one big problem for NOT currently, is the collapse in commodity prices, has investors avoiding the mining sector stocks, taking the speculative side right out of the equation on these types of stocks.

Today the 43-101 news release, from the Eagle One deposit is expected. Hopefully this gives NOT the volume boost it needs to break through some of the resistance levels on its chart. Nemis could delay releasing the 43-101 news, until Monday at the latest and still fall into the 45 day rule. NOT had 45 days from the initial release of its resource estimate to release the actual 43-101. Its just too bad NOT is expected to release its 43-101 today, on the very day that commodity prices have collapsed on the overseas markets. Talk about bad timing. However putting bad timing aside, this 43-101 should put a floor under NOT's share price. The reality of the situation is NOT is a long ways from ever putting the Eagle One deposit into production anyways, so why would weak commodity prices enter into the equation. However you can't fight investor sentiment.

What really interests me today if/when the 43-101 is released, is the promised update from the Blackbird One chrome deposit. From what I can see the market is putting very little valuation from this deposit into NOT's market cap. Nemis is quoted as saying this chrome deposit is worth at least $15 billion, many knowledgeable geologist types are saying this vast deposit could end up having an evaluation somewhere in the $40 to $50 billion range. It is obvious the Canadian market has no idea how to put a valuation on chrome and needs to be educated. Hopefully the 43-101 can include enough information to make this a reality. Currently these types of deposits are mined mostly in South Africa and we have heard some of the major mining companies from this area have visited the Blackbird One site, to offer their expertise. Anglo American one of the largest diversified mining and natural resource companies in the world has been rumoured to be in talks about taking a stake in NOT. I am sure we will hearing more about this in the not to distant future.

One of the huge hurdles, to ever put the McFaulds Lake area into production, is it is situated in the James Bay lowlands. This opens up a host of environmental issues that would need to be dealt with. The remote location of this area also makes the infrastructure costs a huge issue. However, once you start talking mineable ore, with an evaluation in the $40 to $50 billion range, these hurdles are not insurmountable. When Nemis talked earlier about this project being far too large for a company of NOT's size to deal with, I think it was an under statement at best. The reason I bring all this up at this time, is to give investors a basic understanding, of what NOT is dealing with as they take this exciting project to the next level. Having a major come in and take a stake in NOT all of a sudden makes sense. NOT is a discoverer, hardly a company that could deal with some of these issues on its own. Nemis has slowly assembled a world class team, to deal with some of the issues it is now up against. I often joke about some of Richard Nemis's shortcomings, but we have to take our hats off to the man for bringing NOT this far, in such a short time. JMHO

The three letters "FNC" has slowly turned into meaning "frustration now complete". The expected speculative fever, now that FNC is drilling has been a complete bust. Of course the normal slow period during the summer months and investors totally shunning the junior resources stocks hasn't helped. Most investors that want into this play are in, making a situation where there is just no buying pressure left. The lack of FNC doing a PP to let institutional money into the game, probably hasn't helped either. With no solid bids on FNC, it has been doing the slow bleed, as investors that are in, aren't getting the expected share price appreciation, so they are slowly throwing in the towel. There are still numerous shorts that need to cover, so any good news from the drilling front, should give FNC's share price some buying pressure shortly. I have to admit, I read this play totally wrong. I had expected to see FNC's share price at 52 week high levels, at this stage of the drilling program. It could still happen, maybe I just have my timelines messed up. I still haven't taken a position in FNC, perhaps today will be a good entry point, with resource stocks in the dumps, because of the collapse in commodity prices over night. I still believe FNC has an excellent shot at making a discovery of significance, my only fear is will anyone care. The downside risk is FNC misses on this drilling program, making their shares worthless. The upside potential is they hit, causing speculative fever much like NOT enjoyed one year ago. Stay tuned, my best guess, is that this play is a long ways from being over.

I still haven't heard back from questions, sent to the management of MKR. Perhaps in the current market environment for junior resource stocks it's just as well. I still plan on doing an update on this company, but will delay it, to sometime next week. I still think MKR has some excellent property and we will be hearing more from this stock in the very near future. For the longer term investors, I look at current weak share prices as a buying opportunity.

The rest of the McFaulds Lake stocks are hardly worth mentioning in the current weak market for junior resource stocks. Perhaps keeping an eye of MTX/WSR for expected assay results, but other than them, the market looks dead right now. Honestly I don't think the commodity boom is over by any stretch of the imagination. We are just seeing market manipulation by the US Fed, intervening in the currency markets. It is hard to believe all of a sudden the problems in the US financial sector are behind us. It is my belief this is a time of opportunity, to buy some of your favourite resource stocks at bargain basement prices. I think Warren Buffett said it best, the time to buy stocks is when no else wants them. The time to sell is when everyone is falling all over themselves to buy them. Using this theory, buying resource stocks now, may be a very prudent investment for share price appreciation, in the not to distant future. JMHO

Best of luck to all McFaulds Lake investors.


Al