Hi All,

Great to see news starting to come out of McFaulds again. This should be the first of many coming out in the next 30 days. The boys are busy on many fronts and I hope their west coast expedition is going well.

In terms of today's news, I have mixed feelings which I hope to not label me as a Benedict Arnold. On the positive side, we have some really great chrome results coming out of Blackbird One and from the sounds of things, more to come from the new Blackbird Two. The fact that they have labelled this Blackbird Two tells me they feel it is significant.

But this is not as signficant as say, the hole 5 results at DE1 or the Hole 100 results at Windfall. 5-7% nickel and 52 ounces of gold per tonne over the lengths reported are what make Noront the best spec play at the moment.

The chrome is nothing to sneeze at. But we must keep things in perspective. There is always a demand for gold. Has been for thousands of years and will probably be for a thousand more. With a price of over $900 an ounce and a cost to mine the gold at around $200 an ounce, the business case for mining is sound.

Nickel is another commodity that is needed throughout the world. It also has limited inventory levels which rise and fall, adjusting the price accordingly. Though was are at about $8 a tonne, this is the lowest price seen in the last couple of years and just a year ago we saw $15 per tonne and before that $25 at its peak. The current prices are likely a reflection of the N.A. economies more than anything else so the price should rebound once things pick up again.

The PGMs are in a class all their own and many will mine for these apart from everything else. The fact that Noront has assayed some good PGMs is a good sign. The area is full of what we have called "the goods".

But with the search for PGMs, chromite is often found. Many PGM mines have chromite as a by-product. This is especially true in South Africa. While I am not an expert in chromite, I am pretty good at business and know that supply and demand are what drive markets.

There are two important business considerations which temper my enthusiasm on the recent news release.

1) There is about 8 million tonnes of ore being produced annually, 90% of which comes from South Africa and Zimbabwe.

2) In a few of the prorperties in South Africa, the total chromite resources exceed 1.8 billion tons and are expected to support current mining activity for well over 200 years at current rates of extraction.

This is not a pump or a dump on Noront. This is reality. So-called third world countries where labor is dirt cheap and environmental issues are not considered have the lion's share of the inventory.

While Noront has the potential of a great Chrome mine, there must be something that differentiates their chrome from the other's in the marketplace. I doubt they will be able to compete on price given the labor costs here as opposed to the southern africa states. What we may be able to differentiate on is political stability, xenophobic considerations (buying local rather than foreign) and distance to processing and consumption.

With a seemingless unlimited supply of chromium in S.A, Noront must find distintive selling points in order to compete on the global markets. Unlike Canadian Polar diamonds which are popular for their quality and social consciousness of the buyers not wanting so called "blood diamonds", there is likely no such thing as "blood chrome".

So in summary, I believe the share price we are seeing is still positive as it has not dropped, and still has much potential due to the nickel/copper/pgm assays upcoming from DE2 and AT12 as well as the assays that will be coming out of Windfall.

It is still a poor market and I believe that even with chrome as a by-product for Noront, we are at a bottom waiting for the move up.

Hopefully this post will silence the critics who complain about the regulars on here only presenting pump filled information. I believe that many on here are hope-filled which is different than being a pumper. My definition of a pumper if someone who presents false information in order to drive up a price for their own gain. A marketer is someone who presents actual information based on DD who tries to get the word out. Agoracom is a marketing site for Noront and the NOT brothers and sisters are some of the best marketers for the company, encouraging those that doubt.

Doubting is part of the human emotion called fear and is natural for everyone, especially when it comes to our money. But doubt can often lead to criticism which if unfounded can cause damage. I have no doubts that Noront will be a company that will produce two mines in the future. Why? Where there is smoke there is fire and there are a lot of flames popping up in the Ring of Fire and at the Windfall site. Most of my long friends on here believe this as well, which is why we spend time here, ensuring facts are presented. The occasional rumour is fine to, as these can be helpful is they come from credible sources. In the beginning I loaded up on Noront days before the Windfall results came out based on a rumor that turned out to be true. Man, those were the good old days.

Here's to great things in the future. Today was a good day for Noront but not a life changer in my opinion. Many more life changing days to come though if they keep hitting good grades across the properties.

Holding tight,

M1.