I think the underlying substance that the talks with FN was a disaster (5 to 10 parties all wanting something a little different, resulting in more delay) caused people to be impatient, but did not cause people to devalue noront.

Consequently, Noront's drop, based on low vol, is just a shift for more leverage for fast profit. I suspect it's the same group of investors who mess with ROF and other pennies that we all know about selling off Noront for other securities that we all know about. There's lots of other pennies that's cheaper then Noront, that has action hitting them soon. They're shifting to more leverage. Also, I know a few people who are selling Noront to get some quick action before having to pay for a combination of 2009 and 1st quarter taxes.

Once Noront releases something worthy of action, they'll all be back and Noront will lift again. We seem to be all one big family here, with very few new investors. What I don't get is Wes. First he says he wants to cut out leaks for rumors, then he helps spread rumors saying AT12 looks promising. I think there's a difference between idealized managing/posturing vs. dealing with daily phone calls about why the SP is low and what he's going to do about it.

Question: Will continuing to prove up current known parameters of E-nest help SP rise? Can discovering deeper E-nest help SP rise? Can exploring step outs help SP rise? Can excellent results from AT-12 help SP rise? Can Fancamp or PRB discovering substantial Nickel help SP rise? If so, I implore Wes to share info with them. If not, then forget it. Everyone out for his own. Yes, I own FNC as well so I'm biased.

Musings: Seems Noront could go both ways of selling or production. If selling, China seems to want to buy well-developed projects. Has a Chinese company taken risks with other companies similar to E-nest? Cliffs was in early with KWG and FWR, so they were willing to take a risk. But perhaps Chinese companies want a well-proven 43-101 and swiss cheesed property with less risk. Therefor, devoting the amount of cash to continuing drilling E-nest is the right move for a buyout, despite lack of market enthusiasm and SP dip. This leaves Xstrata unexplained. They were involved from the staking of ROF. Where did they disappear to? No interest in FWR, no involvement in anything. Why? Same reason as Chinese companies?

Conclusion: buy if you can, even if it goes down 5 or 10c more. It will all turn profit, because let's face it: ROF still holds lots of unknown anomylies, and even if Noront is not the first to find another hole 49 equivilant, it's SP will still benefit with renewed anticipation transference.

-sg