Iamsudbury,

the prior financing was for $ 2,75 and definetely NOT a NORMAL PP, because it was done for the settlement of a dispute :

Jan. 14, 2010 (Canada NewsWire Group) --

TORONTO, Jan. 14 /CNW/ -- Noront Resources Ltd. ("Noront" or the "Company") (TSX Venture: NOT) is pleased to announce that it has entered into an agreement in principle to issue to certain institutional investors (the "Investors") 2,436,364 common shares of Noront at $2.75 per share for aggregate gross proceeds to the Company of approximately C$6.7 million. The shares will be issued pursuant to a prospectus.

Pursuant to an agreement reached by Noront and the Investors, this offering is being completed in settlement of a dispute related to the validity of the Investors' acceptance of Noront's offer to acquire all of the issued and outstanding securities of Freewest Resources Canada Inc.

Therefore the price point had nothing to do with market conditions and can´t be compared to the recent PP.

Having said that, market manipulation got the stock up from the $ 1.40 level to over $ 1.80, then PP for $ 1.83 and now back to $ 1.40 !

Strange, how the market works, innit ?

(And then the SEC is after NUMA because of "manipulation" reasons ! LOL)

FANTOMAS