Now this is a good read! I have taken out the NOT part and highlighted a couple of points. Good post! Have a good weekend everyone and don't forget your mother on Sunday!

TGR: Switching to base metals, what do you like there?

WI: One of the more interesting plays I like and have been involved in for some time is Noront Resources Ltd. (TSX.V:NOT). I got excited about it in the first place because they drilled what they thought would be a diamond target and hit a very high-grade nickel deposit. They intersected 117 meters of 4.1% nickel, 2.2% copper and significant amounts of platinum, palladium, gold and silver, I was very excited. Unfortunately, the nickel discovery was rather small in size but, as they started looking for more nickel, they discovered a serious and significant chrome deposit.

So Noront is interesting right now. They have a large amount of cash, they're going to be spending about $19 million this year drilling for both high-grade nickel and copper, which they have several million tons of currently. They're also drilling out their chromium deposit, which I believe over time will yield over 100 million tons of chrome ore.

So what I like about Noront is they're in a tremendous, unexplored and target-rich environment. They've had some very good success over a very short period of time in finding both chrome and high-grade nickel. Every day they go out and drill holes, they're building up their resources. If nickel and chromium prices stabilize, which I believe they are doing, it will create shareholder wealth every day.

Looking at the region they're in, it's clear to me that it a very large metal system created this massive chrome deposit and this extremely rich, yet small, nickel deposit. I believe, over time, they will find more of these very rich nickel pods and will be drilling out what could be one of the world's largest chrome deposits, so it's a very exciting story. The valuation is not out of control and they have a very strong board, which we helped put in place last fall. I'm expecting great things from this company over the next year.