NOVX21 Inc PORMF

RE: Stock Performance

[basemetal]

Yours was an excellent posting. However I see this stock a differently. In the quarterly report, one sentence caught my eye;" The future for Novicourt will depend on the success of the exploration program and/or investment opportunites". Apparently they don't intend to pay out the cash assets by way of dividend ! To my mind that makes this company a speculative stock.... a grass roots explorer or an acquirer. As an explorer it has spent over C$1M on exploration this year, ($.7M net of tax credits). All of this outlay has been expensed and yet cash assets have grown and perhaps will continue to grow for the next year even as exploration expense is maintained at these levels. And the operator of the exploraion endeavour is Noranda ! The lack of success in the past says nothing about the prospects of success in the future. Isn't this the mining speculation "par excellence" ? Why should we prefer that they pay out the cash in dividends. ? We cannot expect Noranda to "give" Novicourt anything other that honest exporation effort. I see no reason to doubt that is what we get.