Some excellent weekend posts, yours included.

We are all looking into our crystal balls trying to forcast what Noront will find and become over the next months. A look back gives us both an understanding of erosion in share price and perhaps hint of where it can go given good exploration results.

Bright prospects for Windfall prior to 'ROF' in a good Market took us up to around $1 share price. The 'ROF' initial results set a fire, again in a good market. Many felt E1 was going to be 10 million tonnes at a minimum and more deposits would be found quickly. Didn't work out that way and share prices errosion starts as soon as the knowledge of potential size of E1 got leaked out.

The 43-101 put a number on E1 and since it wasn't through the roof speculative buyers sold driving us down further. Even though now a baseline value was known AND Chromium finds seem entirely discounted.

OK so we can exactly prove a mine or justify a $7.50 share price in this Market. It's not a stretch for most of we long term investors however to put a value based on what we know today of between $4 and $5 a share. Going higher will depend upon more nickel/chromium finds OR some other ROF Player hitting it big.

Guess what I'm saying is that Market Conditions do seem to have taken away $3 or our share price. If we hold on or average down eventually two things will happen.

#1 Market recovery will slowly put back the $3.

#2 Noront or another player WILL prove up more deposits of economic metals convincing the Market AND Major Mining Companies that the ROF will host mines in the near future.

At this time knowing what we do I might hesitate from recommending the purchase of Noront shares at $5 or above. But at $2, $3 and yeah maybe $4 it's a no brainer and I've bought more at all those prices.