and many here today have expressed theirs.

Here's where I'm at.

Once the dissident proxy was announced, in my mind there was one outcome. That being that our BOD would be replaced in it's entirety by Rosseau's slate and Richard would be ousted. When the dissident proxy was announced, Irwin stated that he had 30% support of which I suspect he was underplaying his hand and likely had 40%.

In hindsight, I was wrong regarding the outcome. Like others, I underestimated the effect of the retail shareholder efforts lead by Glorieux (Frank). Kudos once again. Through our efforts, we were able to afford current management the opportunity of negotiation.

Hence the compromise.

Many here are offering their opinion that we lost the proxy vote and the current board is skewed in the dissident's favor. I do not buy it. If we had lost the vote, you can be sure that Rosseau would not have agreed to a compromise. I am going to give Richard et al credit that they negotiated as good of a deal as they could in these circumstances and that 3 members of the new slate are Noront appointees. Case in point - Mr. Parisotto has a relationship with Mr. Blasutti of Barrick Gold in that Mr. Parisotto was the President and CEO of Arizona Star Resource Corp. which as acquired by Barrick Gold.

It is unfortunate that the opportunity for the dissident proxy presented itself. As soon as this proxy was put in play, it precluded status quo for our management team and the future of Noront. Again, I choose this compromise over the alternative.

Are the new BOD members going to grant themselves options?Sure they are. Will there be a PP down the road. Most likely. Will we as retail shareholders recognize fair value? Again, I am going to give the benefit of the doubt to Richard and assume that he negotiated the best possible deal under these conditions.

I look forward to shaking Richard's hand tomorrow and thanking him personally.

Cheers,

Milsy1