Hi Glorieux,

It's nice to see you back.

You wrote:

"The big boys could of derived an NPV and yet, they choose not to buy more even in this very very depressed share price. Mining is not scheduled to start till 2015 assuming everything goes well and no new discoveries in the very near term means those that are interested can sit back and buy small amounts over months without raising the share price. That is part of the problem here, along with the worldwide malaise of course. Once some big entity decides that the value here is a must acquire and they move in, then you will see others jump in and accumulate at a faster pace. I am expecting a run up tomorrow, but I expect it to be short lived and back to 50's within a few weeks. Hope I am wrong of course!"

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These are my thoughts on the subject.

NPV means "we have discounted the value of the project to bring it into real time mode."

If Noront pays for the infrastructure and assumes 100% of the cost the NPV equates to approx $2.54 per share.

If the costs are shared as they have outlined it results in $2.75 per share.

BUT...this is only for the 11 million tonnes of measured and indicated reserves.

Then there is the 9 million tonnes of inferred that is not reflected in the NPV.

You don't pay the infrastructure costs and mine development costs as second time for this portion.

Then there is the approx. 15 million tonnes of chromite that has a value that is not factored in. Drill results of the recent drilling of chromite are pending.

So, why the share price?

The big boys have known for a long time now.

But, the little boys and girls have not known. (we at Agora ..are not in this group)

This has been the best kept secret I have ever seen. Only a select group of big boys know this NPV exists. They are not spilling the beans. So, there is time to play and accumulate. How much time is there?

Well, very very little time..because of elections. Soon Ma and Pa will know.

I posted the link to Tim Hudak's changebook quite a while ago.

The PC government's Northern Playbook states:

"WE WILL CONVINCE PEOPLE IN SOUTHERN ONTARIO that the RING OF FIRE MATTERS TO THEM."

Those are very powerful words.

How do you convince the South of the importance of the RING OF FIRE in the NORTH?

You advertise and advertise and advertise and get in the face of the voters. How do you keep Noront a secret then? How do you keep the largest landholder with proven deposits a secret? How do you hide the NPV ..then.

The fact that the mine is open 2015 or 2016 is completely irrelevant. Net present value is simply the present value ..today....

Take a look at an example like Detour Gold. Here's a link to their site.

http://www.detourgold.com/

They have production early 2013 according to their website. What is their current share price...since they are not producing yet? The share price is $33.83 today...

How about applying the same principle? Noront will be producing in 2016. So that's in 4-5 years. So let's use the Detour gold as an example. I am sure they had a positive NPV proving MONEY prior to going ahead. What was their share price 4 years ago? Pennies?From mid 2007 to mid 2008 it had a steady move from $6.00 to $25.00. Imagine that.

No where near production at that time ...and yet look what a postive NPV did.

Our 2015 or 2016 is NO excuse..since other stocks have not behaved this way. A positive NPV means MONEY plain and simple. But, if you want buyers...people have to know you are alive. That has been the problem. RARELY has Noront even been named in articles. It's been Cliffs this and Cliffs that.

Look how much work Golder and SNC Lavalin and Micon have done for Noront. This did not come for free. So why is this high profile client of a project in an area called "historic to Canada", not even mentioned on their websites?

The average Ma and Pa do not know who Noront is. The accumulators are not telling the retail , "you should buy this stock..I recommend it." Brokers are not calling clients and telling them the secret.

I laugh my guts out when I think of the lying, flaring nostrils I have witnessed on BNN when Noront is mentioned. "Noront- who they say"...as they flare their lying nostrils in diameters unseen before?

It's times like this that I wish what I heard as a kid ..was true. If you lie your nose grows. These guys would need a wheelbarrow to tote their nose around.

Since the ROF is on all three political parties agenda, the time is limited for games.

Accountants, are voters. Financial planners are voters, investors are voters. Once the Cat is out of the bag ..there will be no turning back.

The day to vote is Oct.6. There is much promotion needed from now until Oct.6.

Common Tim Hudak, do your magic.

CONVINCE PEOPLE IN SOUTHERN ONTARIO that the RING OF FIRE MATTERS TO THEM. ( As you indicated you would)

Bring it on!

And as for Mr. McGuinty....tell us what you have been up to in all matters concerning the RING of FIRE. (I know some.. based on the ...trail droppings).

The fall will bring falling leaves... but....I doubt a falling share price.