HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Re: Just doesn't sit right
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Feb 08, 2012 11:59PM

Right on, Ed, and my suggestion of a lack of optomism was directed toward the forum in general, rather than to you personally.

You said, "However I do not and will not think of Noront as in development stage until a feasibility is done on the nickel deposits AND financing completed for mine construction. Until then it is still an explorer".

My argument has, and still is, that we have a management team that has, and likely still is, a mining development team. Their past history speaks volumes of their capabilities. However, their efforts over the last two years have been directed towards exploration, and they have done a dastardly job of it. If it had been a simple chore, as they visualized when they came on board, of doing like explorers do, and punching a bunch of holes into a known resource, they would have succeeded. Instead we are where we are. It has been a long road for them as well as us, but I suspect they have had a bit of a re-education, and are maybe now on track. Let's hope so, for all our sakes (not so much for them).

Best regards

K



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