Edgy wrote; "IF we do get a Christmas gift it will come from drills in the neighbourhood of Eagle's Nest"

Or to reverse it "If we do get a gift from the drills, it could come before Christmas"

I have had many questions, both publicly and privately, on my statement about the new options being significant. The questioners are correct, in that the granting of these options by itself is meaningless.

However, it is the timing, as well as the pricing of them that raises my interest. I presume they were given to Bassett, as he is the one who one would expect to be a contributor to the company, while Li is mainly there to keep an eye on Baosteel's interests. These guys were appointed a month ago. Why wait until this particular day to make the announcement, on a Friday after market, when the high of the day just happens to be .86? And why .86. If they don't expect the SP to hold or go up, why do it now. Why not when the price was .56, or .66?

Perhaps the Price was decided to coincide with the Baosteel cost per share. If the SP goes up further on Monday, they would have to price it higher, so they had to act now.

I have been here since the start of this ROF, and one thing I do know, is that this BOD does not give up information easily or willingly. Every tidbit available has had to be pried out of the obfuscation that surrounds every release they put out, and there was plenty of that to be had with this latest one. For instance;

The release discusses that the chrome extends further to the NE, while the drill pattern and assays from them indicate that it is pinching off in that direction. The drill pattern shows that width and grades are increasing rapidly to the SW, and they don't mention it??? Word also is that they have laid the ground survey out extending over the FNC border recently, which would indicate to me that they are working to the NE of the chrome deposit. WHY??

They are conducting a new ground survey over areas they have covered with 2 or maybe 3 previous aerial surveys. WHY now? What triggered the need for this new shot at old ground. And since this area has seen previous action, why suddenly put, not one, but two drills to work on it? Wouldn't the logical action be to punch one hole into the best looking prospect, and proceed based on the result? OR maybe they already have, and are proceeding based on it. Also of interest is that they started drilling sometime in October, and are telling us about it now. I would bet they have at least a couple of holes done, and if there was nothing, why continue? But as I said; Why the new survey now?

There are two theories floating around in my head, and either one of them is very intriguing;

They found something, while drilling for the chrome, that has changed their whole analysis of the area. That, tied in with this new survey, gives a very different picture of the ground, and, if true, could be a totally new catalyst.

OR; UC has recent drill results that should be ready by now. This drilling suggested a new, different type of mineralization that has not previously been seen in the area. Could it be that NOT geologists have had a look at the core assays and developed a whole new concept because of it?

At any rate, It is my humble opinion that there is something driving this leg up we have had, and it is not just market reaction to the news release. I also believe the company knows we are going up and intends to support it. As always, one good drill result on top of recent moves and we are up and away.

Perhaps it is just the euphoria of the moment, as I came back into the black with Noront on Thursday, when the market closed at .82. It does feel good.

Best regards

K