If nothing else, it seems the last couple of news releases so close on each others tails has certainly improved the quality of posting on the forum. In the last week it had degenerated to sub SH levels, and most posters of any quality had pretty much left the building. Good to see some intelligent discussion return.

I do though, make note of postings about BIM as another example of people making a stock decision, then lamenting the fact that the market did not do what they wanted. I was invested in BIM, and took a real beating in 2008 on the few stocks I sold, them included. I do not attribute that loss to any one entity, but to market conditions. I was in my position because I read the market wrong. RCF was in their position because, obviously they read the market right , and were prepared for the opportunity. Good for them. Rather than belabor their opportunism, perhaps we should be noting their past success, and taking a cue from them. If they have chosen to quietly absorb 21 mill shares of Noront from under our noses, are they the bad guys, or are we the stupid ones?

WE, myself included, immediately lump RCF and Baosteel together and give them a total 30% control of NOT. Why? Other than their obvious interest in the company, what puts them in the same camp?

Baosteel has a 10% holding in NOT, The made that investment so NOT could drill off the chrome and issue a 43-101 compliant resource estimate on it. On that basis, it is a pretty sure bet they will increase their holding to 19.9% soon after may 2, if not right on the day. They also have the right of first refusal on any further investment, but that is premature at the moment. More telling though, again, is the fact that NOT did a PP late last year to raise just enough money to complete this winters drill program. By end of April they will be in need of cash. Bets are that they fully expect another big dump of cash from Baosteel on or soon after May 2.

Perhaps, on the sidelines, RCF has simply been accumulating shares as an investment, with the intention of making a profit, just like we all do. Perhaps, as a result of the recent announcement of NOT tripling their chrome assets, they see Baosteel acting quickly to increase theri holding at a discounted price because of the market, and are taking action to boost the SP before that happens. Certainly they had some motive for buying another 252k shares in last couple of days to take them over that 10% mark, and announce it after market on Friday.

At any rate. my inclination is to treat RCF more in the fashion of a white knight, and to view their actions as an attempt to boost the SP. I have been slowly accumulating my traders back over the last week, and will likely complete it at the open tomorrow.

Best regards

K