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Strategies & Market Trends : 2003 Canadian Stock-Picking Challenge
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To: Al Collard who wrote (399)2/26/2003 10:13:54 AM
From: tyc:>   of 790
 
Thanks Al for posting the news report from the DOG called Novicourt ... The news release contains the following;

"The MegaTEM II system has proven successful in
locating some sub-economic sulphide occurrences"

Big Deal ? Yes I think it is. For if it finds sub-economic sulphides it will surely find the economic ones too.

Trading at $1.45, Novicourt has a book value of ~$1.95 per share without putting any value on past exploration expenditures. (How much is the already collected Megatem data worth ?). It has apparently $65,000,000 in working capital (~$1.65 per share) to finance the search plus ongoing cash flow from the dying mine, not to mention the generous government tax credit for exploration..

Is there another mine in Quebec to be found by Noranda science and expertise ? What do you think Elizabeth ? A grass roots venture extraordinary ? Maybe one should wait for success, as your TA pronouncements so often wisely recommend, Al. It's a dog worth watching.
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