I’m going to talk about the principal assets of Noront and as Kevin has alluded to, we have several assets: some are tangible, some are not so tangible. But Eagle One, our -nickel-copper-PGE deposit, 43-101, 3 million tons, pretty high grade copper-nickel, everybody’s quite familiar with that, though, we’ve issued a 43-101 compliant resource statement. And we’re undergoing a scoping study right now to determine how economic that might be.

Eagle Two is related to Eagle One, it’s also nickel-copper-PGE type deposit. It’s disseminated shear hosted sulphide so it’s part of the magmatic intrusion which Jim is going to enlighten us on, how it all happened.

While drilling Eagle Two, we encountered Blackbird One chrome deposit. That’s also geologically related to the peridotite or the intrusion that we’re dealing with. And not too far away, about one kilometer to the east of Blackbird One was the Blackbird Two chrome deposit.

Noront, the other main asset, is a very large land position in the Ring of Fire. We have a very dominant position there and probably the largest landholder in the Ring.

And the other asset which is sort of the exploration/technical team headed up by John Harvey; that’s a team that we developed over the course of a year and we’ve added to it as needed as we went along. Here we’ve got a staff of about, I think it’s 7 geologists now? So it’s quite an aggressive exploration team.

A little bit about the logistics of the area, location and infrastructure, everybody knows we’re up in Northern Ontario, the star in the middle there, points us at, a little bit inaccurate there, it should be a little bit further north, more or less around where the “O” is in Ontario. But anyways, that’s generally the location of where we have our discoveries.

The right portion of the slide talks about the, or shows the various First Nations communities and the existing towns in the northern part of Ontario. Closest mining project is the Victor mine which is about 170 kilometers due east of us.

So the Marten Falls is, we’re exploring within their traditional territory, there is much overlap in traditional pursuits in the area in Marten Falls, this is marked as their traditional territory; that village is located about 120 kilometers south of the project area.

Closer at hand, a little bit to the west of us by 59 kilometers is Webequie First Nation, we’re using both Webequie and Marten Falls as points of equipment in and out of the area.

As mentioned before, the DeBeers Victor diamond mine is located about 170 kilometers east of us, the start of production in December, 2008 that had a capital expenditure of about 1.1 billion dollars by the time they got into production there.

There’s also in Thunder Bay, there’s a deep water port that would be accessible to us in the event that we had to ship chromite concentrates or chrome concentrates.

We’re not really connected to any major port, although there would have to be road building which is what we’d be talking about in our scoping study. However, Marten Falls is under a program right now where they’re working with the Ontario government to take a winter road and make it into an all-season road. That’s a project that’s partially funded by some of the exploration groups in the area but also we’re looking at helping them lobby the provincial government to make that all happen. That would give that as a direct access to a, to the Trans Canada highway system.

And the dotted lines you can see on there are railway lines, they connect Timmins to Kapuskasing Nakina, Armstrong, Savant Lake and eventually off to Vancouver. So in the event we’d want to develop the chromite deposits, that provides us railhead drops off to the West Coast or to Thunder Bay.

Also, in the event we have to consider smelting the chromite, there’s excess capacity in Thunder Bay of about 530 megawatts of energy which is available, two power plants which have been on care and maintenance for the last while as a result of the downturn in the pulp and paper industry, so there’s ample employment there, there’s ample people to work for us in mill construction and all that sort of stuff.

Everybody’s familiar with this map, what’s important to note on it is the scale; 150 kilometers east –west , about 100 kilometers north-south. The bright purple on there is the most dominant colour , that’s Noront’s land position. That represents 300,000 acres or 110 square kilometers and having most of the favourable exploration terrain in the area. Other mining companies are there, we feel that Noront probably has the most strategic land position there. The red ring is something that Jim is going to talk about, that’s what we call the Ring of Fire and it is essentially an intrusion which has entered the system a little bit later on after the main, couple of main events, but that’s related to the emplacement of the copper-nickel, platinum, palladium and chrome.

Exploration history: well, the real exploration history goes way back, back into the early 1990’s, but the more recent history in 2003 that was a VMS deposit discovered a little bit, about 17 or 18 kilometers east of Eagle One. Noront entered the area back in 2003 by staking claims. We elected to drill an anomaly in August of 2007, and that became what we know now as Eagle One. It’s near surface, it’s only about 7 or 8 meters below surface, it’s a massive magmatic sulphide deposit. We estimate that it’s, we estimate that it’s currently about 3 million tons, very high grade copper, or nickel-copper, platinum palladium gold and silver. And it remains open to depth and to the south.

As we all know, we completed a 43-101 report and we filed it last summer. Also, in February of 2008 we discovered Eagle Two. It’s a related massive shear hosted sulphide deposit, it’s within two kilometers of Eagle One. Jim will get into more explanation of how this all happened together.

AT12 is an ongoing project, we’re still drilling that particular project, and it’s located about 9.5 kilometers to the northeast of Eagle One. While drilling Eagle Two, we encountered high-grade, massive chrome beds. We didn’t know an awful lot about chrome, when we encountered this, other than it was something that we saw on cars, and that sort of thing. Not many geologists in the province of Ontario or in Canada have had much experience with dealing with chrome, and exploring for chrome. So we had to go into a very quick learning curve, and that‘s where we brought in the likes of Jim Mungall, he’s a teacher, a professor at the University of Toronto. He walked us through, all the geologists through, what chrome means and how it formed and why it’s there. So we had a, I guess a very good learning curve that we had to go through.

Anyways, while drilling into this we saw some gravity anomalies off to the east, about a kilometer away, gravity, or, uh, chrome is a very dense metal, it would be reflected in a high-gravity anomaly. We tested a gravity anomaly and sure enough, we hit chrome. So we have that as an exploration tool to continue looking for chrome.

We have many other targets out there, EM targets, high-gravity anomalies that have yet to be tested so we’ve got lots of work ahead of the exploration group at Noront.

And the last little note there, we have nearly 300, 000 acres of land tied up and I think we’ve only really explored in the order of about, probably about 50,000 of that. That’s not an awful lot of area that we’ve been exploring.

Kevin alluded to this, and I’ll just briefly remind everybody. Chrome is a very strategic metal, and it has just come onto the American and Chinese governments as a strategic reserve metal, so everything about chrome is changing over the course of the last few months.

Chromite is used to produce ferrochrome, and it’s an essential ingredient in the production of stainless steel. So if you’re going to have stainless steel, you have to have ferrochrome.

And a property of chrome is that it’s extremely corrosive ( resistant) and it’s also sought after for high end tools, manufacturing, that sort of thing.

There are no economic substitutes for ferrochrome in the production of stainless steel, so it’s a very strategic metal.

The ferrochrome content increases as the steel production moves from austenitic to ferritic grades. All that means is that is that austenitic stainless steel, which has a fairly high component of nickel in it, and North American markets use austenitic stainless steel, as opposed to ferritic. When you get into the BRIC countries, ( Brazil, Russia, India, China) they prefer the ferritic which is a higher percent ferrochrome in that. So in the ferritic stainless steel you’re talking ( what’s the numbers Kevin), so 8 to 12 percent nickel in austenitic and the rest of it would be, a component would be the ferrochrome content in the stainless steel so austenitic you’re probably talking about 12 to 17 percent ferrochrome, 8 percent nickel, and then the ferritic would be 27 percent ferrochrome. So it’s a very, used in the stainless steel industry, and that’s the biggest market. And as it states at the very bottom of this slide, Brazil, Russia, India, China, they are driving the production of stainless steel. China is not a producer of stainless steels, and they are just a net importer of ferrochrome from all the different producers out there.

With not much further ado, I’m going to introduce Dr. Jim Mungall . Dr. Mungall joined us in July of 2008, he was a professor at the University of Toronto, head of the geological department, and he’s a world-recognized expert, researcher in magmatic massive sulphides which also leads us into some of the chrome that’s related to the magmatic massive sulphides , so with no further ado, Jim.