Sprott added over 1M shares to their positionMany paid bashers keep trying to convince people that NOT is a bad investment. However, following smart money is usually a good descision. In doing proper DD, consider these facts more than the bashings of paid bashers:
REPORT UNDER PART 4
Of
NATIONAL INSTRUMENT 62-103
1. Name and address of eligible institutional investor:
Sprott Asset Management Inc. (the “Offeror”)
200 Bay Street, Suite 2700, P.O. Box 27
Royal Bank Plaza, South Tower
Toronto, Ontario
M5J 2J1
2. The net increase or decrease in the number or principal amount of securities, and in
the eligible institutional investor’s securityholding percentage in the class of
securities, since the last report filed by the eligible institutional investor under Part
4 or the early warning requirements:
As at February 29, 2008, there is a net increase in the holdings of 1,392,200 Common
shares (the “Common Shares”) and a net increase in the holdings of 250,000 Warrants
(the “Warrants”) of Noront Resources Ltd. (the “Issuer”). Also, an increase in the
aggregate number of currently issued and outstanding shares has resulted in a net increase
of 1.3% in the Offeror’s securityholdings.
3. The designation and number or principal amount of securities and the eligible
institutional investor's securityholding percentage in the class of securities at the
end of the month for which the report is made:
As at February 29, 2008, the Offeror exercises control or direction, on behalf of accounts
fully managed by it, over 12,041,800 Common Shares and 250,000 Warrants of the
Issuer. Based on the number of currently issued and outstanding Common Shares (as
reported by the Issuer), the Offeror exercises control or direction over 10.3% of the
issued and outstanding Common Shares.
Glorieux-happy DD, today is a down day in the markets, a great day to accumulate. I added to my position today.