I haven't been checking lately, as I've been travelling but I came back into TO today and my take is that the latest SP is an insult to Nemis, his management team and the shareholders. To put a value of $300m on NOT when the McFaulds resource that has a proven $2bill is ridiculous. This SP does not credit any value at all for Windfall and we know that Windfall alone may have a $500mill market value. Lets face it when did this market ever see 54ozt of gold on an assay.

So what is going on the latest price of $2.35 would be laughable if it wasn't for the volume. I'm assuming that the computer sell off kicked in at $2.50 and then those that were out started to buy back. The question for a whole lot of minor shareholders is can they afford to hold on. My buddy is already sitting with a paper loss of $400k he's between a rock and a hard place , do you keep holding and paying the $30k a year intest on the line and hoping for the best. Or if he sells he'll be on the hook for the loss. Tough decision, hold and hope you can recover or sell and be on the hook for the major loss.

My take is that we really need some re-assuring words and action from Richard to get this on an upward track. I've been in this gane for over 40 years and I've never ever seen anything like this. In the past when a junior had a hit (windfall) we would see a definite move probably a six to ten bagger. but for the same junior to have a second major hit in another property (McFaulds) then we should have seen another ten bagger, which would put it at $12-$20.

We never got there , we hit a major roadblock at $7 and it's been downhill ever since. What happened in the Noront SP that some of the major shorters (e.g. Cannacord) have been pushing this stock down ever since. In my opinion or I should say IMHO we lost total traction on the hype and NR's that should have been forthcoming after the second hit. Who could ever forget the AGM when all they played was Johnny Cash and Richard did the show and tell. Whats happened since then?. Alright now i'm going to sound like a broken record , what we've had is IBK taking control of selling the finds and it isn't working. I can appreciate that Richard wants to use them as he's had a relationship with IBK for about ten years( all PP's went through them as they did for most ROF players, check their web site). But now we need some drastic action, having been in business for over 45 years here's what I would suggest:

we need Richard to take total control , forget using IBK as the point and maybe even establish a small group who can brainstorm what is needed to move the SP.

Meet with the major players find out which of them may have an interest and see if they are willing to provide some resources and at what price

Use my broker to determine who is shorting the SP on a regular basis

Hire an experienced Marketing VP and give them the authority, in conjunction with the board, to take whatever action is necessary to move the SP

There are probably other things you could do but I'll leave that to Canseco, Bravekind, Glorieux and others to come up with , I've been retired for a few years and probably out of touch with the latest in management systems.

From my very humble perspective the SP is grossly understated, we appear to be under fire from some serious short sellers. We do have one of the greatest Ni, Cu finds in Canadian history, and a fantastic gold discovery in Windfall. We should be sitting at a minimum value today of $10 and thats before the herd mentality. We are not even close and we need Richard to take a long hard look at what is happening and take some drastic action. He needs to enhance shareholder value and we need it now. Hopefully someone from Noront reads these posts and passes this along to Richard. Or if someone knows him maybe they can suggest he reads the post and gives us some insight as to how he plans on turning this around.

Anyway I'm glad to be back in TO and some decent summer weather.

Thank you for reading the post, good luck to all of you and if you can afford to hold on I know we will be rewarded at sometime in the , hopefully, not to distant future

Joe