I just bought 1000 shares of Noront for USA $1.98.

Last year on Sept. 12, I bought 1,000 shares of Noront for USA $2.08.

Regular readers of this forum know the fundamental facts of how Noront has increased in value over the past year. I don't need to remind you. My point today is that Noront is way oversold compared with a year ago.

I agree that this current down-spike is being caused by shortsellers -- but shortsellers will always be with us. The more important background force driving mining stocks down, from my USA view, is the worsening melt-down of the USA financial markets. This both forces some speculators into forced sales of mining stocks, and it makes many of the rest stand on the sidelines waiting for lower prices (like USA $1.98 for Noront).

When will the extraordinary weakness of Noront's share price end? Before year-end, I believe Noront share prices should rise considerably:

(1) Noront news in September and October from the field, or from assay results, should be positive, perhaps dramatically so.

(2) The usual seasonal rise in gold prices from September through December should also help increase commodity prices generally, and benefit mining-related companies.

(3) The USA Presidential election in early November, regardless of who wins, should bring some speculators back into the markets from the sidelines by removing an important element of uncertainty from the USA financial markets.

For these and other reasons, I just bought 1,000 shares of Noront this morning for USA $1.98. (I just checked, at 10:08 A.M Central Time, Noront's current share price is USA $1.92 Ask.)

Time to buy...

Rek