I started buying some Noront shares yesterday for the first time since the rumors this summer-shares that I dumped when the rumors failed to materialize. I am not buying this time because of any rumors of drill results or buy out but simply because I believe the share price of Noront is approaching absolute stupidity. Our management team made alot of mistakes this year and alot of money was wasted and I no longer have faith in them so I am not buying for them either.

I am buying because I know we have a minimum of 6 Billion dollars worth of high grade ore that will be mined at some point. We are trading at $1 on a share float of less than 200M for a MC of less than 200M or less than 3% of in situe value.

I am not as excited about Noront as I was at one time. My lack of faith in management coupled with the challenges of dealing with governments for infrastructure and dealing with the first nation are the main reasons I left this play and nothing has changed in those regards. However, there is too much value in the ground for this to remain buried and at some point, those holding Noront shares will be rewarded and rewarded well and that is why I am here again.

Glorieux