Thoughts about the share price today:

I believe that we saw the price jump to 4.84 due to short covering. Let's face it, with the type of NR that was released, they would have all been nervous.

It is possible that when this thing did not hit $5, those with warrants started to sell to capitalize on the post hole 5 results optimism. They bought at .75 cents so they are still making a killing regardless of where they sold at today. The drop again causes the shaking from the tree, especially from those (everyone) who believed that the share price should have rocketed. So those with warrants sold at any price, as well as a few nervous nellies, all of which dropped the price down.

The sellers were definitely in control till the finish, but one must remember that there were 14+ million shares bought today as well. That is some nice coin trading hands. 5 times what the market cap was for Noront a year ago. Think about where this company has gone in that short time (relatively speaking of course).

Why I write this is to say that the market does not always do what we expect it should, and for reasons that we cannot see. The last week it was the shorters who were given the recommendation by Cannaccord and Paul Van Magoo.

Today it was likely warrants as theire are still 20 million or so out there. These need to clear out of the way.

It will be interesting to see the amount of OS shares grow with each news release until we reach the magic 120M mark (less the options which will not likely be exercised at this point). Why use up cash when you have an option at .10 and .75 cents which can be used later.

A tough day overall but then again it was millionaires battling millionaires. I believe the retail investors who like junior spec companies avoided Noront today due to the instability of the share price. I could be wrong as I read on here that many bought in under $4, but I could not envision $40M+ (10M x 4.00+) worth of shares being bought up in the first couple of hours this morning by retail. These were likely purchased by private funds like Sprott who want to get in and stay in at any price because they have done the research and understand the results and potential against the risk. What difference does $4.50 or $3.80 make when the potential is so high with the grades displayed today.

Mark my words, this will be huge in the coming weeks and months as the drill tells the story.

M1.