14:01:40 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



North Arrow Minerals Inc (2)
Symbol NAR
Shares Issued 49,944,741
Close 2015-06-29 C$ 0.49
Market Cap C$ 24,472,923
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Kwantes refreshes North Arrow buy

2015-06-29 21:18 ET - In the News

James Kwantes, in the June 20, 2015, edition of Resource Opportunities, refreshes his buy of North Arrow Minerals Inc., recently 48.5 cents. Mr. Kwantes said buy on April 12, 2015, at 80 cents, and a previous editor of the newsletter, Tommy Humphreys, said buy on Sept. 30, 2014, at 58 cents. A $1,000 investment for each of the two buys is now worth $1,442. North Arrow's stock plunged to 42 cents from 93 cents on June 9, after it released disappointing diamond valuation results from its Qilalugaq project in Nunavut. Chief executive officer Ken Armstrong had previously said the project "is not going to fly" if the diamonds were worth only $100 (U.S.) a carat. This was not thought to be likely; Dundee predicted a value of $230 (U.S.) to $380 (U.S.) a carat. On June 9, however, the results came in: $36 (U.S.) a carat. Qilalugaq is now on the back burner as North Arrow shifts its attention to its other diamond project, Pikoo in Saskatchewan. The company sent more than 2,000 kilograms of drill core to be evaluated and Mr. Kwantes expects news in two to four weeks. He acknowledges that his previous recommendation was a bad call, but "at these levels, North Arrow shares may well turn out to be a good speculation."

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