I remember August 2007 very well.

I had sold 75% of my Noront position during the months leading up to that August in order to make some side money on a couple of other plays that were at least doing something other than going down at the time (Noront had drifted from a high of $1.03 the December before down to below the .50s in less than six months). I always held shares in Noront in case they finally hit a big hole at Windfall but could not believe my eyes when the price plummetted that summer.

In August 2007 we fell below .40 cents and then later in August we even hit .29 for a split moment. Those of us who used to post on a different NOT stock board were stunned at the price this had fallen to but nobody was panicked. We were being harassed from every angle by bashers predicting a fall below .20 cents. Rather than panic we joked about cashing in our empty bottles to raise funds to buy as many .34 cent shares as we could the following day. I remember calling it a two for one sale at the time.

I sold off all of my other stocks and bought into Noront 100% that day. A week later the Double Eagle news broke and the rest was history. A month later I was laughing all the way to the bank.

I am not saying that history will repeat itself in the same time frame, but at .63 cents history will repeat itself soon. The same shysters who were manipulating the stock back then are the same ones manipulating the stock now. While it was mostly Cannaccord, Sprott, and Pinetree as the institutional holders back then, there are a few more new faces this time around. And they still shake the tree. They are averaged in over $2 given their private placement history so at some point they will want to see a return after their accumulation stage is done.

I sold off a lot of stock off today to get back to an ALL-IN 100% Noront holding when I saw I could buy the stock at .65. Most of this other stock I had to sell at either break even or at a loss but it did not matter given the discount Noront was trading at. It was really a no-brainer. I have seen these plunges before and will likely see them again. When it happens with a company you know is financially well off into the future and has had excellent drill results, you can only sit back and smile while you hold the new shares in your virtual hands.

I know this does not help those who are maxed out with Noront 100% before the fall today, but in August 2007 most of those who were able to dig up some additional cash accumulated the cheapies that the funds were willing to part with in order to try to shake out weaker hand shares over a longer period of time.

Today was a sale that took down the price of my existing shares but allowed me to buy up a whallop more at a ridiculous price. Should this fall further, I will talk the wife into scraping some more empties together and buy some more shares for the rebound in the future.

The future was the bleakest for Noront during that week in August 2007. A few days later our expectations were smashed beyond expectation as the share price rocketed to 10X levels. I hope to see this happen again in 2009 as we ride out this storm.

Happy to be all in again,

M1.