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49 North Resources Inc V.FNR

Alternate Symbol(s):  FNINF

49 North Resources Inc. is a resource investment, financial, and managerial advisory company. The Company’s principal businesses include investing in a diversified portfolio of common shares and other securities of resource issuers including, without limitation, resource issuers engaged in mineral or oil and gas exploration and development, with a view to achieving capital appreciation of the portfolio. It invests in all sectors of mineral exploration as well as oil and gas exploration and production around the globe. The Company’s portfolio is comprised of investments that are predominantly Saskatchewan focused on private and public resource issues at various stages of development. Individual projects range from grass roots exploration to near feasibility in the minerals sector and early-stage production of hydrocarbons.


TSXV:FNR - Post by User

Bullboard Posts
Post by Henmystirsiron Mar 25, 2010 10:05pm
528 Views
Post# 16926189

Good land purchase I figure

Good land purchase I figureThat purchase could very well become 10x the value paid once the wells are drilled. Heck NVS has a $145 million market cap and they have only about 900 bopd. These properties can probably produce 500 bopd which will be great cash flow for a long time. Maybe $700k per well with payback in 16 months or less, wow. I figure for every 100 bopd we produce should be about 10 cents per share profit for the year. So if they get to 500 barrels that would be 50 cents per share, no complaints with that. Prairie Hunter is already producing 500 barrel day and we have 30% of the outstanding so we already have 150 barrels indirectly on the books plus I think they have 4 other well just completed and producing and they are debt free, wow is all I can say. I think the $3 million they put into that will become $10 million which will add another 56 cents to the NAV. Then you have Ralleymont which could add another say $5 million or 40 cents to NAV. A gold property with 1 to 2 ounces per ton, wow. I believe the NAV is already over $5.00 per share. I have to wonder if maybe my math is wrong when you see the stock trading at near 50% discount it is unreal. Even Pinetree only trades at a 10 to 15% discount to NAV, so no reason why this shouldn't be trading at $4.00 or more. I really think this share price is a gift and I will continue to buy when I have funds available. I only got a few k added to my position today. This share price will double then double again, but I dont know if it will be in 3 days, 3 weeks, 3 months or 3 years but it will happen. I am almost all in. Like was said on the conference call, the discount is ridiculous. All in my opinion.
Bullboard Posts