Let me start by saying, family and business have precluded me from being as involved in the forum as I would like to be and for that I apologise.

The latest moves by Noront to acquire Cliffs stake is extremely positive for every player in the ROF. Notwithstanding the loan from Franco Nevada should be put in perspective. This "loan" comes with conditions not the least of which is the assumption that Noront will mine the ore body within a reasonable term, and be in a position to pay back the loan. Also lets be honest although 20 odd mill isn't chicken feed in the overall scheme of investments that Franco Nevada make this is relatively a fairly small investment for them. What is more interesting to me is their obvious interest in the ROF whether as an investor but more importantly as a future major player and developer of the ore bodies.

On the First Nations, does this really surprise anyone? They are obviously pushing hard to ensure that no one , ie government or miner or investor is not going to do anything on their land unless they get what they consider to be their fair share.We can all get p'd off with them but bottom line is the Province and the Feds have no choice but to negotiate an agreement with them. That doesn't mean giving away the farm but it does mean coming up with something that will allow them to buy into the development. Frank at KWG had a great idea and that is to give them management rights over the roads and everyone pays a toll to use them. After all look at the hundreds of millions the 407 has generated for those investors.

I'm over in London and let me assure you no one in this investment community will commit any of their investrs $$ to the ROF until the Province and Feds get their infrastructure act together. So the obvious question is will they invest once this is straightened out and the resounding answer is YES.

Over the past months the family has been slowly acquiring more Noront shares and we anticipate acquiring more over the summer months. We are also acquiring shares in Bold as we are big supporters of Richard Nemis and John Harvey and we think if anyone can find the elephant they will on Fancamp property.

anyway thats my thoughts , we are long on the ROF and have been since day one

they say patience is a virtue , well we all must have loads of that.

GLTA

Joe