To: Bucky Katt who wrote (23334 ) 3/8/2005 2:41:42 PM From: jrorcuttjr Respond to of 48463 Northern Orion (Symbol: NTO) Likely not a trader, but rather a long-term hold. As WJ puts it "an option that never expires". The potential for large price share appreciation is (IMHO) contingent on what management does with the Agua Rica Project. NTO acquired 100% working interest in Agua Rica in 2003 purchasing BHP's remaining 72% interest for a song(Purchase Price of $12.6M/Estimated value of minerals contained within at today's prices is ~$40B). I picked up a few shares recently @ $2.89 currently printing $3.28. I will tuck these away with my $.95 WHT shares ( which hit a new 52 Wk High Today:) ) BTW, WJ and the rest of you regulars. You rule. I have been (albeit in the shadows) reading, watching and learning from you guys since mid 2000. Thanks for sharing. jrorcutt _______________________northernorion.com Northern Orion Resources Inc. is engaged in the exploration and the development of precious and base metals through direct and indirect foreign subsidiaries and branches. Its principal asset is its 12.5% interest in the Bajo de la Alumbrera gold/copper mine in the Catamarca Province, Argentina (the Alumbrera Mine). The Company also owns the Agua Rica copper project in the Catamarca Province, Argentina (the Agua Rica Project), and has an undivided 50% interest in the Mantua Project, which has been optioned to a third party. Alumbrera Mine The Alumbrera Mine consisted of five facilities: an open pit mine, processing facilities and central administration offices at Alumbrera, Catamarca; a 316 kilometer concentrate slurry pipeline through Catamarca and Tucuman Provinces; a 202 km, 220 kilovolt power line from the project's substation at EI Bracho, Tucuman; a filter plant and rail loading facilities at Cruz del Norte, Tucuman, and a port, handling facilities and train maintenance facilities at San Martìn near Rosario, Santa Fe. The Alumbrera Mine processes ore through conventional crushing, grinding, sulphide flotation and gravity gold circuits. Concentrate slurry from the processing facilities is pumped 316 kilometers to a filter plant at Cruz del Norte. Concentrates from the filter plant are shipped 830 kilometers by rail from Cruz del Norte, Tucuman to Puerto Alumbrera. The port is located in San Martin, Rosario in the Province of Santa Fe. The port operation and maintenance facilities are contained within a 12-hectare lease which includes a rail-switching yard with approximately 8,200 meters of rail. Port facilities include a rail car unloading building and 50,000 tonne storage shed. Agua Rica Project The Company owns 100% of the Agua Rica Project. Under a joint operating agreement between RAA Holdings S.A., an indirect subsidiary of the Company and BHP Minerals International Exploration Inc.(BHP), BHP formerly managed and operated the project and exploration expenditures were shared by BHP and the Company in proportion to their respective interests in the project. Agua Rica is located in the northwestern Argentine province of Catamarca approximately 200 kilometers from the provincial capital and 25 kilometers to the north of the nearest settlement of Andalgala. The Agua Rica property lies in a rugged range of mountains known as the Sierra de Aconquija that runs northeast southwest through this eastern flank of the Andes.