First Bitcoin Capital Corp (BITCF)

[OriginalFred]

NRDS up 10% today on 10X normal volume!

Nord Resources (NRDS.pk) is starting to get some attention. Volume was 10X normal today. Sprott Asset Management just filed to report that they own the following percentage of shares:
Sprott Asset Management Inc: 14.4%
Sprott Canadian Equity Fund: 6.1%

Below is a re-post of my summary for the stock if anyone is interested.

NRDS Summary
Here is a summary for potential investors.

Nord Resources NRDS an interesting company that owns a closed copper mine. With the high price of copper, the mine could be very profitable. As of June 6, 2007, Nord has raised the money needed to re-open the mine.

I think the company is worth a small investment because it offers huge potential if they follow through with their plans.

The company plans to mine 25M pounds of copper per year. At the current price of copper ($3.45), the profit could easily be $2 per pound, so the company could earn $50M per year. There are approximately 87M fully diluted shares. The profit per share could be $.57.

That is EARNINGS OF $.57 PER SHARE!!!

A P/E of 10 would put the stock price at $5.70. The current stock price is around $.70.

Here are some notes on the company:

Nord Resources plans to reactivate the Johnson Camp Mine, a copper mine and production facility located 65 miles east of Tucson, Arizona.

From January 19, 2006 PR:
Nord has filed an annual report on Form 10-KSB with the SEC, as the first step to bringing itself back into compliance with its regulatory filing obligations.
The updated feasibility study concludes that resumption of operations at the Johnson Camp Mine in accordance with the mine plan will generate positive discounted cash flows over an eleven year mine life at 8%, 10% and 15% discount rates.

From February 16, 2006 PR:
Nord has obtained credit approval from Nedbank Limited for a Project Debt Facility of up to US$14 million for the reactivation of the Johnson Camp Copper Mine Project in Arizona.
Plans on producing approximately 25 million pounds of cathode copper per year.

From December 31, 2005 annual report:
On January 31, 2006, we were advised by Nedbank that its Credit Committee has approved in principle a $14 million debt financing facility for the development of the Johnson Camp Mine, subject to: our company raising a minimum of $18 million, by way of an equity financing; [etc.]

From June 6, 2007 PR:
Nord Resources Corporation Announces Completion of Equity Financing
Nord has completed an offering of 30,666,700 special warrants of Nord at a price of $0.75 per Special Warrant for aggregate gross proceeds of approximately $23 million. The proceeds of the financing will be applied to the re-activation of the Company's Johnson Camp Mine, payment of certain outstanding debt (including related party debt of approximately US$2,950,000), general corporate purposes and the satisfaction of the condition precedent to Nord's previously announced proposed $25 million credit facility with Nedbank Limited.

From March 31, 2007 Quarterly Report:
Once financing and permits are in place, we anticipate it will take approximately three months to complete sufficient rehabilitation of the Johnson Camp Mine to allow the production of copper from the existing heaps, and approximately nine months from the start of construction to begin producing copper from new ore placed on the heaps. Our mine operating plan calls for an active leach program of newly mined ore and the residual leaching of the existing old dumps. We plan to use a mining contractor to mine both the Burro and Copper Chief deposits, and our own employees for remediation activities.

Company web site: http://www.nordresources.com/
Quote: http://www.pinksheets.com/quote/chart.jsp?symbol=NRDS
Active message board: http://www.stockhouse.ca/bullboards/forum.asp?symbol=NRDS&table=LIST