Hi Misfit,

Well you did open a can of worms and I just have to comment.

To get to $7.00 we need a nickel price of $15.00 based on the current resource estimate.

What price should we be at based on our curent resource estimate and a current nickel price of $7.25? Ignoring that we hear the gov't is kicking in money for infrastructure? Does that mean that at a price of $7.25 we are currently worth over 3 bucks a share?

Remember also that the below is not factored in to the old resource estimate:

TORONTO, Jan. 23,2009 /CNW/ - Noront Resources Ltd. ("Noront or the Company") (TSX Venture: NOT) is pleased to present assay results from its base metal exploration activities in the McFaulds Lake area of northern Ontario in the James Bay Lowlands.

EXPLORATION HIGHLIGHTS

• Hole NOT-08-44, an extension to Eagle One, averaged 4.21% Nickel, 2.14% Copper, 0.35 g/t Platinum and 6.30 g/t Palladium over 28.8 metres, including 14.1 metres of higher grade averaging 7.46% Nickel and 3.65% Copper.
• Hole NOT-08-2G11 drilled on the AT12 anomaly encounters widespread nickel/copper PGE mineralization over 122.9 meters grading 0.56% Nickel, 0.29% Copper, 1.06 grammes/tonne TPM, including 5.5 metres averaging 2.38% Nickel, 3.05% Copper, 0.92 g/t Platinum, 2.62 g/t Palladium and 0.22 g/t Gold.

The above adds MORE value to the 2008 estimate.

I'm not even going to get into the chromite that is currently worth MORE than zero per pound.

Page 25 of 28 of the July presentation states in writing: current reports indicate deposit has potentially tripled in size. Assuming grades are consistent let's use 2-4% as a number what does that do to our share price based on economics.

I would appreciate you providing some rough economic numbers based on senerio 1 (no change in resource and spot price of 7.25 )and senerio 2 same spot price of $7.25 to keep it simple and similar grades out of eagle one and a tripling resource.

I think with some economic guestimates showing some numbers here it will better help people decide here if they want to sell half their shares now.

Thanks in advance,

Babjak1