Dr Mungall received M.Sc. and Ph.D degrees from McGill University and has worked extensively in the exploration business as a consultant since 1996. In 1999 he was appointed Assistant Professor of Economic Geology at the University of Toronto. He was promoted to Associate Professor in 2005 and was named Norman Keevil Chair of Ore Genesis in 2007. He has published extensively on the magmatic sulfide deposits of the Sudbury and Raglan camps and has edited four books or special journal issues on Ni-Cu-Co-PGE deposits." Source: Noront Press release dated June 10, 2008.

As much as the hedge funds and bashers are making this out to be a dud, it is just smoke screens trying to take attention away from what may very well be the next major mining camp in Canada. Infrastructure will follow when this begins to prove itself out over not only Noront's property, but also the other claims. Speaking of claims, I was shocked to see how many JVs Noront has entered into. A total of six to date which expands their grasp on the area.

Looking at the recent maps on the web site, it is clear why they call this a ring. Look at the staking and combine that with the UC/SPQ drilling, and you see that this is a ring with Noront in the middle.

With all of the drilling going on (see recent FWR and Probe NRs) this summer, any continuation of these grades at sites more than 500M away will send us back into blue skies.

The fact that Noront wants to go it alone (along with the other juniors in the area) tells me that they truly believe they have the goods at this point. Anyone else who have maximized share holder value by selling out to a major while continuing to focus on the gold at Windfall. I believe the market is ticked that the fast buck from a takeover or sale is not in immediate future, and like crack addicted W's, they are out looking for their next immediate fix. The benefit we have over the lot of funds and brokers is that we do not have to report on our earnings each month, quarter, and year. We can afford to be patient. They are desperate to earn money in a dead market.

I believe the majority of trades we are seeing to date are shorts and crosses in a lame attempt to shake out a few shares. Why lame? The longs are in under a buck and after seeing $7 are not interested in just a double after holding so long. The new investors are in over $4 (based on past year volume) and are not interested in selling at a 50% loss given what potential exists at the various properties.

I am prepared to see stagnant prices for awhile while we await the next move in the chess match. Like BK said, be thankful if you can afford to accumulate at these prices. Past history shows this can rebound very quickly and nobody can be assured if these buying opportunties will return again. That is the one benefit of the current games. It does provide us a chance (for those who are not already maxed out) to add more shares to the portfolio after processing the latest info, knowing this is undervalued.

Keep on drilling Noront!

M1.