This report, initiating coverage on Noront, has strong implications for other junior partners like Spider Resources.

If you take the time to review this report (as many of you probably have),  you will read on page 10:

"With respect to the McFauld’s Lake camp as a whole, many attractive targets exist on the land of various companies. It is expected that more than 15 drills will soon be active in the McFauld’s Lake “Ring of Fire” throughout 2008. This increased exploration and drilling activity could require investment of more than CAD $250 million over the next five years. Since Noront’s discovery was made, more than CAD $23 million has been raised for a various companies to explore their respective land packages in the McFauld’s Lake region".

(I have included a link to this report in SPQ's link section.)

Clearly the McFauld's Lake "Ring of Fire" is a region of world class potential requiring world class financing. 

Furthermore, it will require world class investor patience since share prices will continue to be volatile in 2008.

Snug