Ron Meisels
Northern Orion Resources
NNO-T
COMMENT
Feb 14, 2007
After its rise in 2003, it had a very nice accumulation area, followed by a little bit of a run in 2006, but then came back to a point where it is re-accumulating and should be able to find support.
Valued primarily on its 12.5% interest in Alumbrera copper/gold mine in Argentina which is throwing off a tremendous amount of cash flow. In the longer term, the drive will come from its interest in a 2nd deposit 35 km away which could have a big impact.
Stock had a very nice base building between 2004 and 2005. Had a big break out and the stock reached $7 and then it corrected down. A good buying opportunity. Would pull the plug at $4.50.
Has one producing operation with one big prospect of a copper mine. Has to raise about $1 billion, which may have spooked the market a little. This is a project that someone else may want to buy. A good long-term investment.