Post from TC

todays presentation on the website http://www.norontresources.com look under news multimedia in both pdf and mpg audio version. one enhances the other.

in my opinion a good and straight forward presentation- like the approach from the new bod. finally you can sort of trust what you hear - of course imho-doesn't mean that hese guys are also not selling it hotter than it is.

for details just listen and read. in general what stuck me that noront seems to move back with their focus on the nickel, which sort of might tell us they might have hit new sources; they are aware eagle 1 is not enough by itself as well, which is a new point of view, as the chromite itself is not enough to garantee a mining camp. this focus shift might even add some value to the new nickel hit rumor jmho though.

i read on the other board nemis was there rumoring on eagle 3 (didn't hear it myself),.... pffff don't understand that part, he still owns us eagle 2 doesn't he....

at 12 (nickel) was clearly mentioned as substantional and great by hamilton - ' a very prospective area for nickel, it already is', which i wouldn't believe from the nemis agora pump machine anymore, but now by hamilton/mungall it sounds differently to me. the area between at12 and at11 will be the new big key (nickel ?) target for new discovery drilling - a possible 20 km strike length of ultra mafic intrusions still mainly to be checked.

blackbird III (?) was mentioned (by hamilton) but results are still pending, but seems to exsist.

new ceo, if he likes the noront offer might be announced next month.

don't like their npv method for eagle 1 - the old one of nemis that was just copied from those days, no new interest and capital costs included- around 15% on the equity as far as i was told, but in general one is still able to say that the nickel till sofar would pay for the logistic equity costs and unlock all the other finds in the area *about 250 mill to be obliged to be repayed in about 4 years by a 60% financing - 100% would kill the shareholder by dilution, as they stated as well. although i became pretty cynical for the future of these plays over the past 6 months myself, i again think right now it's still reasonable to state that there might be a future for a mining camp in this area in the stars, although it will take time to prove it up - more likely and earliest after the results of the past months and the ones to come over the rest of 2009, but more likely over a longer period of time - imho. obviously chromite might play out to be a big thing in the area but still needs more work & money to be sure. africa sells chromite as a by product, so noront needs to sell its ferrochrome cheap to asia and europe (note north america is with a production of about 1 mill tonnes not important enough to be excited about, the chromite production needs to be more substantional than that yearly amount to be profitable, which means a power plant, increasing capital costs, etc,.. which means a producer needs more nickel, cu and pge's to even think about a productive find on the chromite, although amounts and quality might be sufficient to sell into the ww market, but not set in stone yet because of the early stage metallurgy. hamilton states clearly chromite alone will not do the trick (which is a new publicly perception from the board- the market knew already for a long time - retail was told differently by nemis cum suis in the old days/ it also seem a way to put some negative pressure on freewests discovery), so they need the nickel, cu, zn, rare earth metals, and platinum. so tbc, but both mungall and hamilton sounded pretty confident about those possible discoveries in the future- my words and impression. there is a better perception about how the mms deposits have flipped in position, no word about how much of those deposits have eroded away though...look at picture of eagle 1 in pdf to get more details here. for those who were there, which dyke was mungall mentioning? -similar to eagle I- for which they didn't have time to check on yet?

161.000.000 shares out fully diluted- after the drilling of this year still 12 mill in cash by the years end. mungall sounded upbeat about the chromite ore as well as on the change on hitting more nickel, he gave good geological reasons for that and talking about shipping chromite straight out as is in grapefruits of ore for around $400/tonne for around 50% chromite with a favorable ferro ratio. no mention about the seize of the chromite deposits yet. but still some very good stuff to ship out compared to the rest of raw material sources in the world ("everybody (in the area) is in the money here': mungall)- although he was reluctant to be too determined on his statement because not having a fully finished metallurgic study yet- a note i also liked from his mouth. anyhow,... stop it here, this message is not meant to gave a full overview, there is more to it specially from hamilton and mungall, time for dinner for me, but would advise you to listen yourself- it's worth it in my opinion. i think this is a good presentation and this might help the board to get this story more attention

all the best roos

ps hamilton mentions an update on the nickel exploration 'shortly' which also might sounds well for the current rumor.

and to end some little pump from hamilton ' we all know we are one hole away from fame and fortune', sounds for a difference good from his mouth, because normally he is dry like sand- imho. he was also polite (and smart) to mr. nemis and gave him an introduction in the crowd.
this board feels good to me. get lost george and let these guys do their job- you better mind yours, which obviously sucks!