I think that if you don't do DD yourself, Elizabeth's posts are not going to help you much. Let's have a look at her great contribution.
Here are all her posts on the NRI thread:
1. Mar.19, 2002: Just finished reading the most recent technical report.
This is more than just challenged. It's ridiculous.
2. Mar. 20, 2002: The company has a market cap of $98 million the project has an NPV
of $82 million and the $605 million hasn't been raised yet. That's ridiculous.
This is the best fundamental short I've seen in a while.
3. Mar. 21, 2002: (response to me -AH) Do you really believe that Placer would give away a 70% interest
in a deposit of this size and grade to junior company for a token exploration commitment?
Especially, to a company that has no way to raise the US$600 million to build this project?
4. Mar. 21, 2002: (response to cayman1) You are the perfect promo-tease.
If you know something or have a methodology to support the current market cap
you should say so instead of the baloney you're spouting.
5. Mar. 22, 2002: (response to cayman1 - about short position) Those numbers look bogus
and contrived to me. I don't believe these are unhegded shorts and they probably
represent insiders or brokers doing something.
6. Mar. 22, 2002: (response to me -AH) I think this is a massive and slick promotion
that will end badly for all.
7. Mar. 22, 2002: (response to philv) I realize what Placer is doing and similarly,
you have to realize what NRI is up to. It's not fraud it's just an expensive scam.
NRI doesn't have the ability to finance this project and anybody in their right mind knows
that to be the case. Live with what you own. Last words from me on this ridiculous company.
I don't see anything worth reading. Unless one is interested in psychological aspects of such posts. I cannot see any mention of 'potential geological issues'. There is no real discussion of anything. I suspect that EA does not know much about the company. And judging from her comments about Placer not being so stupid to give away rights to 'deposit of this size' (EA), she has problems comprehending simple facts. The most important fact is that Placer DID give away rights to 30% of this deposit. By the way, it's worth noting that her mind was clear enough to process information about the size of the deposit. If this is the 'level of understanding that is way above' yours, I am really surprised.
20 mil oz. is 20 mil oz is 20 mil oz. At least 30% interest in the property is what it is 30% of at least 20 mil oz. for 10 mil $.
Please note that EA made her first appearance on this thread on March 19th. She obviously did not notice spectacular results of drilling in 2001. At the same time she dispenses nuggets of her wisdom on various threads discussing little stocks representing properties of the size of a peanut in comparison to NRI's. Actually, other properties of Nova's alone beat those little puppies.
I am taking time to react to their comments because I find it a bit peculiar that Nova has been completely IGNORED by SI folks (see the number of posts here). I tried to draw attention to NRI on different boards but to no avail. And then, all of a sudden, comes EA and says 'riduculous', 'bogus', etc.
If those who what get some real info, go to www.novagold.net and begin your research on your own.
Reliance on pompous and dismissing blurts from AE would not be my first choice.
If the stock is a perfect candidate for short selling at this point, just do it. |
