I've been in the UK for three months, visiting friends , family, welcoming a new grandchild into the world and of course meeting with some financial acquaintances. I've not posted for a while but I follow the forum religiously.

I'm never surprised when it comes to stories of Noront, after all they could probably make a movie about the antics of this BOD and their senior execs. The question is what would they call it, maybe we should have a contest and see what we could come up with, any suggestions?

On a serious note , every time I speak to the financial guys, both in North and South America and Europe I always take the opportunity to speak about the Ring of Fire and the financial opportunities that exist.Some know a lot about the area some have heard of it and believe it or not for some it's a new story. For these guys I take the time to explain about the early discoveries and the move of Cliffs into the area. Funnily when you mention Cliffs Natural they sit up and become engaged in the topic and want to know more. They especially like that the discovery is in mining friendly Ontario, yes I said "mining friendly". a couple of them wanted more info so I gave them the sites and they did their own DD.

For what it's worth here is their take on things, now keep in mind these guys control some pretty hefty investment accounts.

The move of Baosteel to take a position in Noront is a big deal for these guys, they see this as a first move by Bao to eventually take a major position. However they don't believe there will be any additional large financial stakes until the Ontario Government makes a decision on transportation.

First Nations, they believe that Noront is doing everything right and that the FN situation will be resolved both Federally and Provincially, this is too large an investment for it to be screwed up or held to ransom by the First Nations.

Cliffs Natural, the investments they've made are small by comparison to other projects they have however by putting the gun to the head of the governing Liberals to get the deal they need is a positive move. As an aside they believe, as do I, that Cliffs will eventually become a takeover target, they can't see the major players allowing Cliffs to hold such a major chromium find. Ater all whats a few billion to the likes of Rio, Billiton, Xstrata. However this probably wont happen until Cliffs gets the project farther along.

Anyway at the end of the conversation I asked them if they would recommend the ROF to their clients. The answer was a decisive no. They said there are too many other mining projects where there clients can make money, and most of them are already up and running. Thats not to say they wont be watching for news of the area now that it's been brought to their attention.

Keep in mind most of these guys are busy trying to preserve and grow capital, and given what's been happening throughout Europe I don't envy them their jobs.

On a personal note there are $$ to be made in these markets but you need to be vigilant, it's not a market for the timid investor. If you have some spare cash it's also a good time to increase a stake in some gold juniors, Eagle Hill springs to mind.

I don't expect too much news out of the ROF over the next few months. Given that the Ont Govt is now under a credit watch it's doubtful if they will make any major investment into the ROF. However they can give financial protection to companies that are willing to raise the capital.

For me there is no question that we are going into a major bear market and possibly a world wide recession. This is a great time to preserve cash and have it readily available , there will be some great deals to be had in some fantastic companies.

At this time of year we are reminded that the true meaning of xmas has nothing to do with gifts/presents it is to celebrate the birth of our lord and saviour Jesus Christ.To my non christian friends I wish you health and happiness for 2012 . To my christian friends may the blessings of our lord be upon you and your families.

And a special reminder, to those of us who are holding stocks in the ROF, remember it is only an investment, nothing more , nothing less. We are here because we believe we can , at some point in time, make some serious money. To Agoracom , thank you, we are fortunate to have this forum where we can share our thoughts and knowledge and most importantly have respect for the opinions of others.

God bless all

Joe