Nemis doing a pp at $10 was never in the cards and he's now eating his words and probably wishes he never said that.

Noront does indeed have the potential to go to and above $10 but at this time it doesn't have the deposit defined that will do this for us. There are great quality drill targets and all it will take is time to identify ore bodies and their quality.

This pp, which the market hasn't yet had time to appreciate, buys Noront the time to fully explore and develop the kind of deposits required to support a much higher share price. Makes it much easier for ultra longs to just close there eyes and have a nap for a few months.

Hard to think of any other exploration company in this area that could have done a deal like this. Give Noront an extremely strong hand for 2008.