Regards to all

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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bernardho

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Regards to all

posted on Oct 27, 2008 01:58PM

Tomorrow we will have a new BOD.

The battle for proxy finished with surprise. Why I was upset is because the new BOD consists of people who lied about the work the previous BOD had done for the past year.Even though their tone has changed now, there is a mist of cloud over this New BOD for a while until they perform honestlt /differently.

AS many peers including Glorieux ,D12 ,Geoprof said :this may be the best outcome because our vote cannot win ,nor be defeated.I try to put aside this sentiment and try to figure out what the best scenario for the new BOD.

1. From last news about vthe economic feasibility study, (the Barrick Gold was mentioned ) as they also hire the same consultant to do the NI study..I do believe we may have more common ground in DE rather than the Windfall project, it will only be justified to negotiate once we have the 43-101 ready.

2. The average cost/ price for the fund investors are (4+5 ) / 2= 4.50 + interest for a year. Anything that under this price is a loss on paper..again, I try not to put a conspiracy theory that they will manipulate our investors by having pp at a much lower price..

so adding the Eagle 1 ( 3.50 ) +2+ Blackbird 1+2 + D12 + 12 JV's potential + Windfall + other minors projects + 30 million cash , members may intuit for themself how much the Noront's worth...this is as of today..27th October...( my figure is CAD 15 at least ,it is a pity that RN had not have enough time to do all the feasibility studies).

With the new BOD, I sincerely hope that they will enhance the value what Richard had left for us. If they sell under Cad 15, I treat it as a rip off or a incompetent BOD.

3. NN will be important in the management role as he once was the spearhead of the discovery before John and Dr. Mungall came.He is the most important person for First Nation's relationship as well as the integrity and the moral of the whole management team.

4.Today the share price has gone up, hope that more news on drilling will come .

For tomorrow ,if anyone attend the AGM, please ask the new BOD about the TSE filing .