Fossil, you are correct.

I made a error in not calling the bridge loan a convertible loan. (The bridge loan had been converted into a convertible loan)

On Sept 14, 2014....Sedar simply calls it a loan ..which it is.

The Corporation has agreed to the further condition for sales of Securities through this Prospectus that the maturity of the existing US$15 million loan from Resource Capital Funds be extended to not earlier than December 31, 2016.

Other than that nothing changes in what I posted.

It is eyebrow raising that the "Loan" was moved up 6 months.

It is eyebrow raising that at the same time the 50 million dollar prospectus was cancelled.

My question remains that if we need money mid March to do drilling....and Noront called the 50 million dollar prospectus....thereby not raising money through common shares....where is the money to come from?

The prospectus was cancelled and loan moved up AFTER Noront started doing exploration...

My opinion is based on further evidence of what was found while doing exploration ...someone became very interested.