First, lets address Mr BigBadBarnicles comment on Nickel prices. Kola Mining just came out with there 43-101 and they used $8 per pound in their report. How they came up with this I cannot be certain but an average price over the last 5 years along with supply/demand trends over the next few years played a role in coming up with this number I am sure. 70% of world Nickel consumption is used to make stainless steel but nickel only represents about 5% of the cost for stainless steel. Even with the price of nickel doubling, the price of stainless steel would only go up 5%, so our market is quite protected.

Also with the asian expansion the demand for nickel will at least be reasonable. Also baring a complete collapse of the US (which may happen but I doubt) they will be using a lot of stainless steel to maintain their huge infrastructure that is crumbling (literally). So if you are a serious investor, do your DD, nickel is not going away, the world needs nickel and will continue to need nickel no matter what paid bashers say on these forum!

Nickel comes in two forms. The sulfide form which is our type is far cheaper to extract and this means our deposit will be worth more to whoever mines it.

Canseco and D12 have been PILLARS of this forum for a long time. They are some of the most trustworthy individuals I know on this forum. I have talked to NN and RN on multiple occasion and have gotten to know the men who steer our ship. Absolutly nothing from the posts of Canseco or D12 seems out of line from the conversations I have had with these great gentlemen. I strongly believe they are reporting everything to the best of their abilities with no hidden agendas which is more then I can say for the people who spread fears and doubts about this great company.

Kevin Feeney, CA and Prof Dr. James E. Mungal Ph.D., P.Geo are two big additions to the Noront team and I am grateful to have them join our management team. We are a better company with them on board. These individuals come with great credentials and Mr. Kevin Feeney has worked in blue chip public companies for years. They have jumped from very secure, well remunerated careers to join Noront. Please think about that for a minute and go reread their credentials from the June 10th NR.

The big question is what should our Market cap be...The easy answer is higher!!! To be honest this topic has been done at nauseum and I believe the best answer I have seen came from Millsy1 on one of his famous tables.

But basically E1 according to Genuity is worth 5.6B. That of course assumes a buyout by a major. If this happens, then we should get 20% insitue value or 1.12B dollars.

Now, E2 has been drilling longer then E1, at a deeper area with lower grade, at least at the top of the mineralization portion. How much is E2 worth? We do not have enough info for anyone to come up with an estimate. However, management has done everything in its power, even admitting to some of us directly on the phone that they argued with the OSC to include comparaisons to some of the biggest Chromite mines in the world but the OSC refused for them to do this. I believe this is one of the reason the 43-101 is delayed. When they include the Chromite info in the 43-101, they will then be able to discuss this properly and make the fair comparaisons they want to make. So is E2 substantial and should it add to our MC...YES!!!!!!!!!.

What value per acre should we get for the rest of our land around these 2 gems of deposits? I will leave that one to other more knowledgeable people to tell us-all I know is we have a LOT of land and people are falling over each other to stake up to 100km from our Eagles. That tells me that there is a lot of value in these claims of ours.

Then of course there is Windfall with walls made of gold and 4.8M of 52ozper ton of gold...surely we can give that a few millions worth towards our market cap...

So, in my humble opinion, our market cap should be close to 2B dollars or $15 per share...a far cry from what the market think we are worth...but if you are long like some of us, you do not care what the market thinks, you care what the majors think!!

Of course this is all in my humble opinion and open to debate...

Glorieux