Hot stock tip

Now that Noront is once again in the news with its ferrochrome smelter site selection, I thought I would have a look at this “high flyer.” The company believes it will capture about the half of the US ferrochrome market with its Canadian smelter. They didn’t disclose their marketing strategy but it must be something else.

It wants the Canadian government to ante up about C$1-billion for logistical infrastructure—basically getting its Ring of Fire ore to the smelter and ports.

Finally, its stock is trading at around C$0.35 per share, yes that’s cents. The 52 week low was C$0.27 and its high was C$0.52. The market cap was C$119.05-million.

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2 Comments on "Hot stock tip"

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Claude Dufresne
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Pat,

As you know, it is always a challenge for a junior mining company to get financing, and the game is too create as much buzz in order to limit the dilution of the company. I am not sure if the $1 billion is just for the smelter alone or it includes the capital for the construction of the mining complex. In any case, at the end of the day, a project will not be moving forward without securing an offtake agreement for the size of the check needed to build the mine/smelter. The bigger the check, the bigger the offtake.

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