Thanks for posting this one Gramps. I found it reassuring that we are not the only ones facing adversity during this time of worldwide market constipation. The big boys are cutting back due to low commodity prices and low demand for metals. This should provide a message to NOT that capital conservation is important. No one shuts down a mine for a month or two because they believe things will get better in two months. They are preserving capital and so should we.

The clippings Gramps shared show me that no discovery at Noront over the next few months will make a difference in the short term. Any new discoveries or extensions to current zones only increase the potential inventory of product we could offer at a later time at prices higher than today. While the product can be tucked away for a better day, there is very little future value potential being added to stock prices lately. To witness other companies trading at market values that are half of their current cash assets is unbelievable. Gordon Gecko would be drooling if this was the 80s.

I have not been that vocal the last week or so but am still big time in Noront. Nowhere else to go really and willing to wait this out as long as it takes.

I hope the new boys at the helm will see the reality of the current market situation and conserve the old (and yet to be seen new) capital in order to ride out this storm over the coming months and possible years. The capital they preserve is not only ours, but the high priced share dollars that the big 40% coalition put down this year. I can at least sleep a little easier knowing that each penny the stock drops represents less to me that someone with 10M shares bought at $4 of $5. I believe the motivation is there to rescue this share price at the right time.

Survival is the key word of the day. A look at the share price today tells the story. No buyer confidence in too many things in the market today and I cannot blame them. Any 10% rally in any stock and the profit takers drive it back down. Where is the incentive for people to invest? I predict a large capital gain allowance increase next year to entice money back into the market. As it stands now the Gov of Canada stands to lose $4 Billion from capital gain taxes that they normally see every year. To make matters worse many will be requesting a clawback of capital gains paid in the past three years with this years incredible losses. So even the government is hurting.

It is not only the mining industry that will be culled during this downturn. The financial industry representing analysts, researchers, brokers, .... are fighting for pennies at the moment and I predict many will leave to other industries. The greed of the few has melted away the spoon that fed them. I may have lost some capital but at least I have my job. The hedgie who manipulated my stock is out both which is a form of justice in a way.

I for one can sit on my shares a long time and wait. Nothing more to do at this time than do that. The brokers will likely not make a dime on me over the next year if this type of market keeps up. I am not out by any means, more hibernating which I believe many others are doing.

Cull the industry, write off the losses, shake out the criminal minority and build new protections for the investment capital the free market relies upon. After that we may see a new day. The real free market has a way of trimming the fat. Until then I encourage all to make the best decisions for themselves and to rely on the reasons why this was a good investment at much higher prices. When it all falls down the metals in the ground that have been there since the last Volcano erupted in Canada are still there and protected by a permit owned by Noront. Until that changes or my shares get diluted down to nothing, I will be napping and enjoying the better things in life that money cannot buy :). Stay hopeful everyone. Tough times do not last but tough people do.

M1.