I am not as knowledgable as most people on this forum nor do I have the time to do as much research as some. I am deeply thankful for all of the information that has been gathered and posted by so many very well informed people. I really believe that this sp is going to go very high sometime in the future but as most, have been quite discouraged seeing it drop day by day. I have discussed the situation with a couple of brokers and they maintain that there are three things that are affecting the price:

1. lack of interest. - It is summer and people are in large part thinking holidays. Any mediocre NRs will unlikely have any significant results until after the holidays and then only marginally. Until people get back to business and there are some significant announcements we will probably not see any big changes in sp.

2. Lack of drill results. - Since NOTs DE News Release there hasn't been any large drill results that would gain the attention of the major buyers or smaller ones for that matter. Another major find anywhere in the ROF will certainly have some impact however the location and quantity indications will be very important. We will need to see some significant quantity announcements for things to improve significantly.

3. Poor market conditions. - The mineral exploration sector has not been very popular so far this year and has been held down due to many other events. This may improve in the latter part of the year.

From what I could gather any single announcement would not likely have a very great effect on the sp. It may take a series of significant NRs to get the excitement and interest of major investors again. If this took place in a more favorable market for the mineral sector it could be very positive for the sp. Until some of these conditions happen the sp is likely to drift in this lower range for the next while.

I wonder if most of the ROF companies realize this and it is their intention to try to regain the markets attention by releasing any significant news in a timely matter ie. carefully announced at the same time possibly later in the summer.

Another advantage for anyone trying to consolidate influence in the ROF area would be to try to gain any working relationships, partnerships, buyouts and JVs while the sp of everyone is at a depressed level. This could be a great advantage for the larger companies such as Noront. These deals take time to set up and conclude and it may work in our (NOTs') favour if the sp remains low for a while.

I am sure that we shall see many positive and surprising events take place over the summer and with the management team that Noront have in place, we should be in a very enviable position when things settle out this fall.

I hope we can all relax and enjoy the summer.

S.