scarff, you wrote:

Confused now because was considering buying another 5000 at these prices but your scenario indicates more people are wanting to sell than buy. NOT encouraging.

Does the trade know something we don't?

For the record, I am an owner of Noront with a long-term investment approach. I am not a trader, and as such am not adept with respect to the intricacies as are some of our other forum members. Hence my question to the forum.

One thing that I am not confused about is the long term potential for our company. IMHO, anyone looking to become an owner or add to existing positions at these levels will do very well for themselves.

Here is my conservative valuation: (using 132MM shares F/D)

Cash on hand: $0.30 / share

JBL Land Holdings: $1.32/share - The average value per hectare for all our JV agreements is approx. $1,500.00 (based upon required exploration and payments) and Noront in total has 116,000 hectares.

Eagle 1: $1.74/share - $2.3 Bn CDN at 10% in-situ. 10% being conservative.

Windfall: $0.65 per share. Back in December/06, our share price hit $1.07 based on results of hole #100. at that time, we had approx. 80MM shares outstanding for a market cap of roughly $85.6MM. (85.6/132 = $0.65)

With all of these conservative valuations, not including any "blue sky" or additional news (from some many likely targets) IMHO we should be at $4.01 per share.

But here we sit. Can it go lower? Sure. Should it? No. As has been discussed here numberous times, we are presently at the mercy of the markets, the MM's and lack of news.

From an investor's perspective, not a traders.

Cheers,

Milsy1