hello friends,

i see a lot of posts with many wondering why the news releases are slow and why noront is signing lots of joint ventures.

i have never talked with anyone at noront so these are strictly my own thoughts based on many years of trading and investing and many hundreds of hours of research on the james bay lowlands and related firms in the area.

everyone should do their own due diligence and not believe anything they read without checking out other sources, then take responsibility for your trades and your own actions.

i have seen situations like noronts double eagle before. here is what can go wrong and why i think we are seeing some of the management actions, which if i am correct, are protecting the current shareholders.

if you are a junior mining company and you find the proverbial "lucky strike" the question for the management of the firm is:

how do i realize the maximum value of the find before the firm is taken over by a major at to low of a price relative to what is about to be found?

since my research indicates that many times nickel is found in multiple pods, and everyone in the industry knows this, i am betting (via share purchases including some fairly recent additions at over $4.00. also fyi i have never sold a single share of noront and have held noront since right after the windfall strike) that more pods will show up.

the big risk to a junior is a major buys you out before you prove up a major find.

does noront have a major find? only the drills will tell. i know which way i am betting. and i have purchased numerous other firms shares in the area just to spread my bet (believe me, i did much more research then this simplistic explanation but you get the idea).

noront doing a large number of joint ventures will allow lots of drills to punch lots of holes once the surveys are analyzed. this gives noront more then 50% of everything found on their staked claims since they control 50% of the joint venture plus own shares in the jv firms.

the critical time factor, as i recall, noront has something like 90 days after a takeover solicitation to in essence determine its own fate (ie auction itself).

if noront or its jv partners hit a large amount of new pods guess what happens to the share price! then noront has a brief amount of time to further delineate and infill where needed to further prove up the resource to maximize value.

i am guessing that noront management is walking a careful tightrope of letting out enough info to keep the price from cratering yet holding off for a massive coordinated drill assault by noront and all of the joint ventures over a very short period of time. news will fly big time when that occurs (good or bad). from what i have read about the survey and analysis we are likely 30 or 60 days till the massive drill attack time point. then within another 60 or so days LOTS of visuals will be available. if we hit massive sulphides and the black water flows at numerous locations, we will all be very happy.

also, of major note. the private placement by noront brought in some of the best and smartest mining people in the world. ie rob mcewen, pierre lassonde, and sheldon inwentash's pinetree capital, part of "THE BIG 4", as i dubbed the group, that made a big private placement investment in macdonald mines (bmk) after the double eagle find and just as importantly some of "THE BIG 4" have business ties with diagnos inc (adk), the company that helps locate prospective drill locations among other things which it would serve your time, i believe quite well, to learn more about this firm - diagnos inc, and what it does and what it might be doing in the mcfaulds lake area. you can not get a better vote of confidence and confirmation of potential then having mcewan and lassonde on board as noront investors. (you can read my prior posts on "THE BIG 4" to understand their extreme signifigance.)

i am quite comfortable with noront so far, impatient yes, but still fine with what i have seen.

be right and sit tight,

all the best,

jsq