HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Relections on Noront's $7 high and current true value

Poly,

I like your assessment that Windfall & DE1 are almost certain values that are not currently being realised in the stock price (what you call a slam dunk.)

What I think you may be underestimating is the value that another strike at Mcfauld's will bring. When that happens (and given the amount of mineralisation that other companies have found in the area, as well as the comment by Dr. Mungall that "The large amounts of sulfide and of ultramafic cumulate make it absolutely clear that the Eagle One deposit has formed in a magmatic conduit. No magma could have carried the observed amount of sulfide in solution; therefore the sulfides have been left behind by a through-going volume of magma much greater than what presently remains in the intrusion. If the intrusion is accepted to be a conduit then it must be continuous over considerable distances likely measurable in kilometers." - I view this as close to a certainty as we can get without an actual drill intercept) I would not be surprised to see the stock price shoot up by the same order of magnitude as it did in September. In my mind, this could potentially happen at any time - depending on Noront's success in choosing drill sites.

Once another pod is struck (or DE1 is significantly extended) then many large market players will be actively interested and will accumulate in an aggressive fashion.

But then of course, my wife calls me an eternal optimist on stocks.

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