OTCPK:NOSOF - Post by User
Comment by
infojunkyon Apr 25, 2008 9:59am
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Post# 15008898
The only fishy info is from you guys-professional
The only fishy info is from you guys-professionalWho post NR out of context.
Noront is attempting to streamline the testing process on such a large discovery with dozen players all scrambling to get a piece of the pie. I don’t see any misconduct here, except by all you short sellers. This is what the NR actually said:
"As announced on March 25, 2008, resource studies at the Eagle One have commenced but this work, as well as progress on the anomaly drilling, has been hampered by this extremely lengthy turn-around time for drill core sample analysis. This is due to the current heavy demand on the Analytical Laboratories. To alleviate the slow turn - around time for assays, the Company has entered into an agreement with Activation Laboratories ("ActLabs"), headquartered in Ancaster, Ontario, whereby ActLabs will provide priority processing to the Company in exchange for a $200,000 advance payment used by ActLabs to construct a new lab facility in Thunder Bay, Ontario. ActLabs will reimburse Noront at a rate of $5 per sample processed. At present the new laboratory in Thunder Bay is accepting samples from the Double Eagle project and providing sample preparation. The resulting sample pulps are forwarded to the ActLabs Ancaster facility for final analysis. It is expected that the total analytical process will begin to be accomplished in Thunder Bay sometime in May of this year. Noront anticipates that this will substantially speed up the turn-around time for analytical results."