Getting back to the original topic for Maroons "Why did this happen" post, here is why the company chose to purchase the NSR some 2 and 1/2 yrs ago. I bet there were many considerations. This is what we do know. It would be not until Jan 2010 that Micon produced their 43-101 compliant report. You seem to have overlooked the second reason in your post.

The Company feels that the return of this asset to the shareholders dramatically enhances shareholder value. The decision to purchase the 2% NSR interest was made due to the strength of the Canadian dollar as compared to its American counterpart.

Recall that hindsight is 20/20. So while we are timetravelling........

Here is some other relative data from the NR period of Nov 2007.

ISM SP Ranging from 4 to 5 dollars.

Price of Nickel at the time between $12 and $15/LB. It had peaked to nearly $25 in April?May of 2007

As well the Darcel report was made public a month earlier Oct 25, 2007.

http://img170.imageshack.us/img170/1323/20080208181246is5.gif

And finally a clipping from the MD&A Filed in Dec 2007

Total assets for each fiscal quarter have steadily and significantly increased over the last five fiscal quarters, reflecting the equity capital raised in those periods while cash general and administrative expenditures remained approximately level. The major cash disbursements during that period were for mineral exploration. Under the generally accepted accounting procedures applied to mineral exploratory entities, those are recognized as commensurate increases in the respective mineral property’s recorded asset value. This has resulted in total assets for the fiscal year ended September 30, 2007 of $47,439,389, which is an eightfold increase over that of the previous fiscal year of $5,884,662. This capital infusion into the Company has resulted from both the private placements of new investment units as well as the exercise during that period of warrants and options already outstanding.

The increase in Mineral Property Costs are the result of the acquisition of outstanding 2% net smelter return on the Langmuir property and exploratory expenditures by the Company, which also is almost entirely on its Langmuir Property in Ontario.

The Company’s significantly increased working capital reserves have been generated specifically for the purpose of substantially increasing the rate of exploratory development.

The increase in Shareholders’ Equity has roughly paralleled the infusion of capital into the Company, increasing from $5,392,927 for the fiscal year ended September 30, 2006, to $47,100,827 for the period ended September 30, 2007. The working capital available at the end of each period has steadily increased over those same periods, reflecting management’s priority of insuring the future continued viability of the Company as a junior mining entity.

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The original NR for the NSR

November 23, 2007 - 3:01 PM EST