Noront was selected as the top junior exploration stock this year, and for good reason. The Board of Directors stated recently that they would focus on drilling high priority targets this winter in the Ring of Fire area. Noront's personnel have proved themselves adept at analyzing electromagnetic survey data and successfully drilling some very high grade deposits.

The only thing that Noront lacks at this point in time is massive tonnage of such high grade ore. Once such mass of tonnage is proven, then a takeover bid war should ensue in short order. All Noront has to do is find one or two more deposits equivalent to the Eagle 1 deposit. Then there will be no question that Noront's deposits can be mined profitably and at a much higher profit than the deposits being mined at Sudbury, Voisey's Bay, and other places where they are scaling back nickel mining operations (since the expense of mining and processing those lower grade ore-bodies cannot sustain a profitable operation at the present price of metals).

The world does not stop operating in a depression or severe economic recession, it just scales back. There are bridge repairs, car repairs, and the needed replacement of mechanical and structural parts of all kinds of items that the world needs to continue to operate (even with no projected economic growth). Consequently, any company that can supply necessary goods or commodities at a cheaper price than its competitors can make money, even in bad economic conditions.

Noront was selected as the premier junior exploration company this year because they have not only proved up some of the richest new deposits in Canada, but because they have acquired the lion's share of the property on which these deposits lie, and because they have demonstrated the skill to be able to accurately target and drill and find such high grade deposits with such a high degree of success. We know that there are a number of other high priority targets just waiting to be drilled. That is what is being done this winter. Our likelihood of success is much better than average.

I expect by springtime that we will have drilled into some deposits similar to Eagle 1 and be on the way to proving up sufficient tonnage to make us an attractive takeover target to some of these major mining companies that cannot profit from their presently owned properties. A bidding war between these giants for Noront would soon move our price back up to a respectable level. This is how I see things shaking out for Noront.