HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Fundamentals

Not that I disagree particularly with your statement BUT one has to recognize that to a large extent the ROF goes, as far as share price, where Noront leads. If the market feels this is an uneconomic mining camp then they have no reason to invest.

Hamilton shouted out that it takes Nickel to pay for infrastructure without clearly stating Noront had enough. Market probably didn't like this when some sugar coating by way of saying Chromite will take up the slack or make the 'enchillada' economic could have helped perceptions.

It is ridiculous to believe that Noront does not at this time have considerable assays in hand on earlier drilling. What on earth is going on in their office that an update can't be released? At best it's incompetence.

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