HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Lots of talk/hope about tonnage

Re: Lots of talk/hope about tonnage

posted on Sep 16, 2008 05:37AM

Not sure what you want from me? $1.80 is a ridiculously low price for Noront shares given the prospects for Windfall and resources found and indicated for properties in the 'ROF'.

What we are all looking at in the 'ROF' to eventually propel Noront into the $10+ range are 'inferred resources' we think will eventually be defined.

Yes the resources disclosed in the 43-101 are good and point to a baseline value to Noront (or an interested major) but the market isn't giving us much credit for these. The reason is not that they don't believe those metals are there but they don't yet believe there are enough yet to say for certain that the 'ROF' is economic to develope. It's the same reason a Major hasn't stepped up to the plate.

Now we all feel totally certain that the 'Market' just doesn't get it and that the odds of all the players spending mega bucks in the ROF not finding sufficient deposits to make development economic is extremely small.

As soon as the Market buys into the fact that Noront's ROF deposits are economic they can put a fair market value on them of 10/20 or 30% and our share price will be 4 or 5 times what it is today.

Would you tell your mother anything different? My explaination of why the Market is valuing Noront as it does could of course be wrong AND for certain the general market conditions accounts for at least a dollar reduction in reasonable share pricing possibly even more.

You want my personal idea of the value of Noront shares today? $6 which will doubles investment when it hits $12 which I'd have expected by end of this year in any normal market.

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