Noront when they hit Eagle 1 had a value per ton of $600 per ton and was considered high grade. Noront also has 20M tons of this ore with the extention to the 1200m level. Noront`s value per ton now is about $380. They have about 230M shares out.

Now, ZEN has value per ton of about $450 but could be as high as $900. They do not have an RE out yet but based on geophysics, a 200m step out and finding ore from 20m depth to over 300m, this pipe could contain 40M tons of ore. We also have 2 other pipes nearby identified which have not been drill test yet. ZEN also does not have the infrastructure or native challenges that Noront has. ZEN has 43M shares out.

The weird coincidence at this point is both have a MC of $70M...guess which one has more upside at this point!

Glorieux