Three short sentences to announce that we have now a single shareholder with a 18% position! The shortest a NR can be, really! Someone is laughing at us!

Hence we have to try reading between the lines (RBTL)...

"Noront is pleased to announce that it has entered into an agreement with Resource Capital Fund V LP..."

A direct, straight Agreement. No commission, no fees. RBTL: RCF did knock at Noront's door, and not the other way around... And the first solid knock probably came around the last ride in the share price...

"The Offering is expected to close on or about May 8, 2012 and is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange."

Short and sweet, no due diligence, no conditions, no warrants. Here's the check sir, bring the shares please. RBTL: Yes, for sure, the raider probably came around somewhat recently, probably in late 2011... He has now a big paw on our tail…

"Proceeds from the Offering will be used to advance the development of the Company's flagship Eagle's Nest nickel sulphide project in the Ring of Fire district in northwestern Ontario."

How more general can a statement can be? They could have said: Proceeds from the Offering will be used for business purposes. A empty-statement. RBTL: Money is there to deliver the ordered shares! We'll see later what we'll do with it... If 'we' have time! My take is that there is a plan around there… June may be a cold month! Do you smell the sweet odor of blood? K: what do you think?

GLTA.

BaBe.