Last May 2013, a very good friend of mine retired at the age of 47.

This friend dropped out of school in grade 9 ..due to financial circumstances (had to help his mom raise 3 kids after his dad deserted them)

He worked 7 days a week....like a machine.

He ended up starting a company.

In 2013, he sold his business for several million dollars. Over the past 6 years I had been blabbing on and on about Noront and the Ring of Fire.

Last May we met up for lunch and he told me ...he would buy some shares. I think he did this partially hoping I'd stop talking to him about the Ring of Fire.

His Broker at the time was over at Dominion Securities (Owned by RBC). His plan was to buy a million shares.

The price at at time was around 25-27 cents.

He had MILLIONS in cash after selling his business and the broker at RBC gave him a very hard time about spending 300K....on Noront

He did everything to talk him out of it. Weeks went by and my friend was getting frustrated with this broker and asked if I would have lunch with him and talk to him about Noront and the Ring of Fire.

So..the 3 of us met for lunch and had a chat.

I was older in age than this broker that referred to me as "kid."

I let him speak first. He told me about Noront's negative earnings per share...and then more bla bla bla.

He told me about unstable commodity prices ....Spoke to me like I was born ....yesterday.

When he picked up his wine glass to have a sip...I went in like a hornet.

Told him a summary of much of what I have observed and posted here. He squirmed a bit..and for a while...stopped calling me "kid."

He told my friend it was his decision in the end to buy or not to buy...but that he was stongly against buying Noront.

My friend gave him a cheque for $300,000...and told him he wanted the shares ...otherwise he'd find another broker.

My friend has 1 million Noront shares at an average price of 30 cents which took roughly 1 month to obtain last May.

This broker called him numerous times during this one year period telling him "he needed to sell."

He drove him nuts during Christmas when he pointed out ...just how low the price was.

My friend was told, "sell while you still can."

My friend told this broker that he had known me for 27 years and that he trusted me more than he trusted him. He was not selling.

My friend texted me today...he's been living in Florida over the winter and hasn't paid attention to Noront. He received a statement in the mail and couldn't believe the share price....he's almost got a double within a year. He has since transferred the shares to another brokerage firm.

He told me he shakes his head when he thinks how difficult the RBC Broker made it to buy these shares...and how much he was hasselling him to sell them. He is very happy to be a Noront share holder and will remain so until the company is eventually sold.

I'm sure it isn't just me that has noticed that RBC is the biggest villian in playing with the Noront share price for the longest time now.

The RBC hiring of Phil Fontaine, the FN that hob nobs with Bob Rae...is not a coincidence.

Mick Davis, X2 mentioned there were a couple of Canadian banks that were interested in getting in on the X2 deal. ..RBC and TD were the first ones that jumped out in my head.

I see more little bread crumb trails with RBC ...but would need a few pages to provide more detail.

Most recently ...yesterday we had this announcement:

http://www.ogier.com/Deals/pages/OgierLegaladviseonlaunchofnewUS$25billionGuernseynaturalresourcesfund.aspx

I find it interesting that after looking at Ogier Legal who assisted X2 on starting their new venture...I also see quite the cozy with Ogier and RBC...this is just ONE example below.

http://www.taxnews.com/news/RBC_And_Ogier_To_Host_Seminar_On_Achieving_High_Value_Residency_In_Jersey____28588.html

RBC And Ogier To Host Seminar On Achieving High Value Residency In Jersey

by Robert Lee, Tax-News.com, London

03 October 2007

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It will be interesting to watch this whole story unfold.