Items I found interesting and worth highlighting:

Budget going forward as follows:

Eagle one ...further drilling and scoping study total $3.5 million

Blackbird one & eagle 2......resource estimate cost of $2,150,000

Blackbird two.....continued drilling cost of $1,050,000

AT-12....continued drilling cost of $875,000

Testing for new anomolies.....$1,830,000

Camp and airstrip.......cost of $1,750,000

Contingencies.....$1,115,500

Keep this in mind as well:

"This report is considered current as of July 3, 2008."

I like this quote

"Grades at Noront’s Blackbird One compare favourably with those at the world's most important chromite producers."

On valuation, it is stated... The contained metal value in a ton of ore at 40% Cr2O3 therefore is $1,890 a considerable increase over the May 2008 lump ore value of about $600 ex ports."

Significance of eagle two......

It is felt that the drill results obtained to date at Eagle Two are consistent with the conceptual model which would suggest that there is significant potential for the discovery of another Eagle One - type deposit as the Eagle Two mineralization is traced westward into a possible feeder conduit.