I'm willing to reserve judgement on the new board - but I really don't like the way this has played out. I voted my proxy for the existing board, but in the end Noront management cut a deal with the big players and I am getting a different board than the one for which I lent them my proxy. I guess I could make the same argument if I had voted the yellow proxy. This just does not seem right to me and it smacks of misrepresenation in my mind. Noront management may have been acting in my best interest, and this may have been the best deal they could cut, but I would have much preferred to have had the AGM delayed giving time to properly explain the implications of this new slate of directors before the vote. As I see it my vote has been essentially hijacked.

I understand that retail investors hold upwards of 50% of the outstanding NOT shares. Perhaps in future we should band together and appoint an independant representative to vote our proxies. This way we could have our own representative in the backroom when the deals are being cut. I agree with a number of other posters that this forum does provide an opportunity for retail shareholders to work together for a common cause. Perhaps Glorieux would be willing to vote our shares next year if we haven't already been sold out?

My thoughts for the future - I have been buying the past few weeks working my average cost down. I am not comfortable that the new board will put my interest formost in future decisions, but they do appear to have credentials and I think that based on what we have in the ground we would not need very competent management to make money, given reasonable economic conditions. I don't think that it is in anyones interest to sell NOT out at a $1 or $2/ share, so I anticipate eventually seeing higher share prices. My only concern is that the bigger picture economic turmoil which just seems to be getting worse by the day might dry up demand for our resources and sources for financing.