First remember I’m a fiscal conservative, older guy who’s been around and once even was a banker. Still I’ve held Noront shares since the early days of Windfall.

Some forum members bought into Noront at prices over $6 and probably are upset and wondering how they could have made such a mistake. Well was it?

Windfall, 4.6 meters of ore grading 52 oz per tonne with value per cubic meter block of ore with value of around $45,000 which makes a tonne of ore from DE 1 hole 5 look like chump change. Noront are poking a ramp down and will extract at least some of this ore and turn it into cash. Say they take out 4 meter width of ore and only 50 meters in length = 200 cubic meters or $9 million dollars. Want to bet there isn’t more?

You know why they didn’t bother spending, at this time, to punch a lot more drill holes which were recommended. It’s because that drill cost is better spent on DE 1 and can be done later after they clean out the first rich deposit.

McFauld Lake, DE 1 and Hole 5 with 117 Meters of unheard of Nickel,Copper,Platinum Group and Rhodium. Numerous other rich holes as well as numerous targets and huge new claims registered.

Now feel better? It is not surprising in the least that Noront share price exploded. The sharp decline is due to short memory and terrible US meltdown that’s for now receded

But is Noront highly Speculative or is it an investment?

There little doubt Noront will not, within 9 months, be valued at less than $10 a share.

So what needs to happen before we see that value? First continued drilling at DE 1 to allow for inferred resource calculations. This will prove up, in my estimation, at least 7 million tones of rich ore body. Second get the bulk sample and cash in the bank from Windfall and continue to calculate resources there. Third find either extension to DE 1 or DE 2, 3 etc..   

What’s the probability of the above three things happening within 9 months? Windfall is a slam dunk, DE 1 as well, DE 2 given proximity to DE 1 has to be better than 50% and deposits on huge property under JV and pending JV is almost certain to identify resources.

So what do your value these things at on a per share basis? Me, remember conservative eh!  Windfall at $1.50 , DE 1 (after resource calculation) $6.00 and DE 2 plus JV’s at $3 per share to arrive at $10.50.

What’s a guy or girl to do, invest in shares at under $7 and hold for 9 months to get return of over $10?  Now note I’ve put no value at all on Blue Sky. Blue Sky is hitting another 52 oz per tonne of gold or 114 meters similar to Hole 5 at DE 1 and Blue Sky is another $10 or $20 a share.