Shares of Noront Resources (TSX: V.NOT, Stock Forum) moved 10% lower Friday after more than doubling this week, as Stockhouse posters continued to weigh in on the share price’s recent moves.
While the company has not released any news this week, it did issue a statement after Wednesday’s market close, saying that “there are no corporate developments or undisclosed material changes involving the Corporation to account for its recent rise in stock price.”
The company, which is focused on its nickel-copper-platinum-palladium, chromite and vanadium discoveries in the "Ring of Fire” area of Ontario’s James Bay Lowlands, did release an exploration update on June 29, outlining the current status on drilling at its Eagle One high-grade nickel, copper, PGM discovery, and re-iterated Wednesday that all outstanding assays on Eagle One are pending and will be released when compiled.
Meanwhile, the Noront Bullboard remained one of the most posted Bullboards on Stockhouse over the last few days, as posters were busy sharing thoughts about the share price spike.
long34 made the following comments:
Bets are on that assays for the two intercepts in hole 49 are coming in slowly. The first intercept of 241 meters will need 250-300 assays. The second intercept of 196 meters will need another 200-225 assays. Thats 450-525 assays and that will take a long time to complete. IMO we will see reports plus of 100 meters running over1% nickel in both holes. Good news is that the mineralization extends down to 900 metrs and with the geophysics they may be sitting on an elephant. Time will tell
Maybe they have another discovery?
And, in a post entitled “You heard it first from me”, GOLD6 said: “Noront hit a super grade hole processing in Lab right now[sic]”
To follow the conversation, visit the Noront Resources Bullboard.
