Everyone is getting bogged down with numbers about eagles nests worth. If anyone has the exact numbers, please correct me, but I know my numbers are at least close enough for sake of argument.

Net Present Value (this is the "take home" after all the infrastructure, roads, mine, financing etc etc etc is already paid for) of eagles nest with nickel around $8.50 a pound was around $500 million, or about $2.10 a share fully diluted. Again, this is just off the cuff math. Even at todays prices it would be worth around $1.25 to $1.50 a share i'm sure. Nickel going up helps, and remember there are other metals in this deposit and other deposits.....

The reason for such a discount on these shares is simple, nickel prices suck (going up IMO substantially by mine time), there is no road yet, and no financing in place to pay the estimated $600 million or so to build the mine. Once these things are set it stone, we will see much more of that $1.50 to $3 a share (metal prices dependant) than we are currently. Not to mention this is just for eagles nest! Keep in mind FWR and SPQ sold for around $250 and $125 million respectively (forgive my memory, i'm sure i'm close but likely not bang on) for just their chrome deposits. They didn't even have nickel or near the land that noront does. An argument for $5 a share certainly isn't out of line (even though I highly doubt we'll get there before the wolves take us down), but some of the things we have discussed will have to change. The longer we survive without being taken out, the higher the price tag will be. Not sure what I hope for given my low entry point. Needless to say, shares at .20 cents are a discount like no other.

As for the EA, I have heard that it is on schedule for the 20th. Good luck all.

djje