I finally had a chance to catch up on posts since last Thursday. Let me be the first to say that the quality of posts on this board has improved 300% since last December. The knowledge and experience of many talented investors has been drawn to this board and considering where we were at one year ago with IR, this is fabulous. Great work everyone.

A special thank you to my old friends who sent me messages. It is now over a year and a half ago that Noront grew from a tiny 10M dollar company with very little shareholder discussion to what it is today, with a market cap that flucuates between 400 and 800 M.

I bring this up to provide an element of perspective. A six person company has had to grow up really fast in a short period of time. Given the recent hirings and promotions, I believe we are seeing the company preparing itself for the next big news item, whatever that may be. SP volatility will not level out until the majority of shares are possessed by institutions holding for long term value. Sprott and others are great for the Canadian small cap market but they too have been hit by losses across the board due to the problems in the world markets and its impact on this sector.

I believe a lot of selling the past few months has more to do with inst. investors taking small profits to balance out their overall losses in this sector. While Noront has always been subject to share price manipulation, shorting, and bashing (ever wonder how they can release an amazing news release and suddenly see the SP drop 20%), they also exist in the same market as everybody else. That is, the economic outlook is still uncertain and without proven deposits holding shares in any exploratory company has risk.

That being said, I have never been more positive on owning Noront stock at this moment except for that time last summer when I was able to buy more at 40 cents (the 3 day sale). Last summer saw a sale as large funds were forced to cover during the market collapse. The first things to go during those times are the risky stocks. Noront fell 50% from .60 cents to .29 at one point. The regulars bought more that week as a deal is a deal. And what a month that followed.

There is a sale on Noront at the moment due to nothing more than low volume selling in what is a slow market. Call it summer doldrums, manipulation, the position of the moon, but we are not in a bull market at the moment.

This is why this is an excellent time to buy. And buying I have been doing. I have been so fortunate to pick the two days to buy when the price fell under $3.50. A return to $7 is a 100% gain. Will it happen again? Of course.

For those worried about the current SP, perform this little exercise. It worked for my wife when she worried about us going back in with a majority of our savings after cashing out profits earlier this year.

Visit yahoo dot ca and click on the financial section. Type in NOT.V and then run a one year graph. Notice the $4 line and compare how much white space is above that line and how much is below. It is night and day. Today we are below that line. But it will only be temporary. How do I know? We have been here three times before in the past year and have recovered every time. And consider that we had two serious market crashes during that time frame.

NOT will take time to mature. It will take longer if they make a go of it on their own, but could take months should they partner or sell out or part out to a major. It is the resource sector cycle of life. Those who explore sell to majors eventually due to the sheer amount of capital required to produce an sizable economic operation.

The best thing NOT has going for them is the credibility of their management team. They can be trusted and have proven that over the past year and a half. Those around this time last year wished for a few weeks that Richard would make up news just to say something. But all was silent for months until the DE1 news in August.

I'll take quiet over snake oil anyday, as long as the drills speak. Up until now, the drills at Windfall and DE have been singing quite nicely. It is only a matter of time.

M1.