I did not intend it that way but if that is how you choose to see it that is your business. I meant it as we are going thru an explosion of activity here. Hole 49 has captured the markets and we are working very hard at figuring out what we have at depth while the Chromite story is the sleeping giant that the market refuses to acknowledge. However, if we do start to mine the chromite in a 50-50 JV with someone, just the NA market represents a minimum of 4M tons times $400 per ton for 1.6B in revenue per year over 10 years!! This will justify all the infrastructure and then our nickel will be that much more profitable if it does not have to support infrastructure costs. So Noront needs to focus on these activities right now and a TSX listing will take a back seat until we can get a handle on all this stuff.

The advantage of being on the TSX are great for shareholders as some have mentionned due to more fund managers and money pools are available and this should increase our SP-and the greed from the big boys will make sure we are on the TSX when they want to cash out-but the requirements are more expensive and time consuming. Noront wants to preserve cash and time, I have no problems with this since I am long.

I have to admit that I do not like the market sell off right now. Oil, gold, base metals, general markets, nothing is safe in the last 2 days. Is this a blip in the recovery or our we heading down another steep cliff. The US seeing deflationary pressure is scary and they will do everything they can to stop this but one has to wonder how much amo they have left. These events are worth keeping in mind as I believe this is the only event outside Noront's control that can really put a major barrier in our way.

I hope this trend turns around quickly!!

Glorieux