The survey question was: what do you believe will be the final GMV for Eagle 1&2, Blackbird 1&2, AT12 and Windfall. Here are the results:

1 votes for these deposits being worth a total of 5 Billion dollars

6 votes for these deposits being worth a total of 10 Billion dollars

3 votes for these deposits being worth a total of 15 Billion dollars

19 votes for these deposits being worth a total of 20 Billion dollars

9 votes for these deposits being worth a total of 25 Billion dollars

If you average out all the answers, this would yield a GMV of 18.82 Billion dollars. Of course this is not scientific. Actual values may be very different from these but it is interesting to see that those who participated in this survey which are all agoracom users and probably read more Noront stuff then most retail investors believe there is that much valuable minerals in Noront's sight. At current market value this would give us an In-situe value of 2.1% of GMV. Needless to say that if Noront does prove up what we think and there is a take out, we will be looking at an easy 5 bagger for 10% of GMV or 10 bagger for 20%.

So Noront has lots of work to do to prove this up but the hardest part is finding these deposits. Once found, delineating them is child's play for the great team of geologist we have assembled. We have identified all these deposits. Have delineated most of one so far. Delineation of Eagle 2 is doing well. Windfall delineation is doing well with the ramp. Blackbird 1 is doing well for delineation. Blackbird 2 and AT12 are in the early stages of delineation so will take more time. However, when we look at all these deposits, we can see that all of them may be delineated by Chrismas and 43-101s done by April 09 hopefully. So we are talking about another 9 months to possibly get to a 5-10 bagger if you believe that Noront will prove up 18.82B in all these projects. Of course, if we prove this than a mine at JBL is guaranteed and we will probably be closer to 20% of In Situe value in a take out but I expect the market to only give us 10% till a buy out is annouced. 9 months is a short time in the mining world...look where Noront has come since Eagle 1!!

Cheers to all longs,

Glorieux