Looking at Noront´s JV with WSR I compared that to WSR´s JV with Metalex and came across some strange figures that I would like to throw in for discussion:

- first of all you can see on Noront´s latest claims map, that some of the claims of both JV´s are next/close to each other

- if you compare the JV agreements you get the following facts:

1. NOT/WSR 50%

9600 acres (15 blocks)

400.000 shares

$ 400.000 cash

$ 5.000.000 exploration expenditures over 3 years

2. Metalex/WSR 50%

8944 acres

no shares / cash

$ 20.000.000 exploration expenditures over 4 years (with 12,5% interest for every $ 5.000.000 spent)

The Noront JV (more blocks) looks like a bargain to me !

So why would Metalex be able to negotiate such a big deal with this amount of spending for exploration (WSR gets only 12,5% for the first $ 5 m, in comparison they get 50% from Noront for that money) ?

Any thoughts ?

FANTOMAS

P.S: The question of the red line on the map has not been answered so far. Any comments on this issue (look at the line especially in comparison to the Metalex/WSR JV) ?