Noront raised money in August 2009 so those shares became tradable in December 2009. These were flow thru shares at $2.75 which after tax have an effective cost around $1.68. So it is very possible that this new paper was sold heavily in late December and early January when our prices were way over the $1.68 mark. At our current price, if anyone still has those flow thru shares, I do not believe they would be selling them now unless they really needed the money as they would be taking a loss on it.

I did purchase shares in GNH thru a PP and those become tradable in April and I have wondered how this will affect the price. Will people just start selling these "en masse" and drive the price down or will there be an orderly exit. Time will tell for GNH but for Noront, I do not believe this is anything we have to worry about at this time.

Someone should put in a reminder in 4 months for these shares that closed yesterday. It is a relatively small amount of shares but it seems like these shares were obtained after some type of disagreement between Noront and the purchasers. So there might be some animosity there and those shares might be sold in a manner that punishes the company. Actually, when we look back at the last 2 weeks, if Genuity or CIBC was one of those companies that were forced to buy shares at $2.75 to remedy a dispute, maybe this is their way of keeping only the amount of shares they wanted-and at the same time get back at Noront for this dispute.

These are all suppositions of course but the timing of the sell off and this agreement by Noront and this third party is disturbing to say the least now that I have connected the dots.

Glorieux