There is some gloom in the air about 15,000,000 bucks - no sound of popping champagne corks.

This is Tax-season, many taxpayers are looking for a break. As a mineral exploration company, Noront can pass the tax breaks available for exploration onto investors in the form of so-called flow-thru' shares. This tax break works best for those in the high tax brackets, but it would also work for many of us on this Forum. We too could benefit by owning some flow through shares, say about 5 to 10% in our portfolio. The advantage is that the full amount of such eligible investment can be claimed on your tax return.

For a typical long-term Noront investor such form of investment should not be scary at all. There is a bit more to it, but you put your mind to it you will figure it out. One holdback for a small investor would have been of course, that Noront did not announce to us its plans for issuing such flow-through shares.

The Press Release states very clearly how this new financing will be used:

"Completion of this financing will give Noront the opportunity to continue exploring for nickel, copper, platinum and palladium using flow through dollars, while conserving hard dollars for other purposes including engineering studies aimed at reducing project risk. We expect that the flow through dollars raised in connection with this financing will be sufficient to allow us to complete our 2010 exploration program, which is focused on resource expansion at Eagle's Nest combined with exploration at AT-12 and other promising geophysical targets within our Ring of Fire landholdings."

With all due respect, in my view this new 15 million dollar investment is very good news, it will pay for our extensive drilling drilling and exploration programs and pave the way toward new discoveries, new PRs, and better share prices.

Cheers!

durban1