Here is Canaccord's daily newsletter blurb:
Noront Resources (NOT : TSX-V : $5.55), Net Change: 1.23, % Change: 28.47%, Volume: 11,399,108Shares of Noront were on the move after a mention in the Financial Post over the weekend. Titled, “Is this Voisey’s Bay II?” the article says the big boys, such as CVRD Inco (RIO) and Xstrata, are alreadyinquiring about the deposit. Noront expects one of them to eventually buy the company. At last report, the company has completed eleven drill holes at its Double Eagle Project in Ontario’s James Bay Lowlands. Currently, assay results are pending for Holes 7-11, with Hole 12 currently drilling. Management indicated that Hole 7 encountered the mineralized zone over 24.7 metres which was less than the 68.3-metre intersection of 5.9% nickel and 3.1% copper in Hole 5, that Hole 7 was designed to undercut. The sulphide zone was also encountered over 22 metres in Hole 9 and over 8.4 metres so far in Hole 12. Noront noted that it is having difficulties establishing the true width of the zone as it appears to be irregular in shape. The company remains sufficiently encouraged to accelerate the program through freeze-up with the addition of a second drill this week. Noront has raised $13.9 million in cash through the exercise of warrants, which will assist it in driving its exploration programs forward.
