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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Message: A few thoughts...

A few thoughts...

posted on Oct 08, 2009 01:55AM

Some randoms;

1. I think the FWR longs quick are to point out the great value in their chromite but fall short in pointing the great 'potential' of Noront. We are still open at depth and have an extremely intensive drill program lined up for the winter. We are one step-out hole away from tripling the Eagle's Nest. I like this deal because it's a win-win, but I think it will prove to be a very generous offer for FWR shareholders. I'll buy some if anyone wants to sell them to me for 40 cents.

2. I also don't understand the frequent comments about being treated fairly or with respect by the BOD. Ok, I'm new and I'm not bitter - but do we really expect our CEO to have spare time to shake our hands and answer our phone calls? I'll take Wes over this Mac guy any day from what I can tell. Frankly, if I called Wes Hanson or anyone at Noront for that matter and they took the time to answer whatever queries I might have that day - I would be gravely disappointed. Get to work! Actions speak louder than words and it looks like they will be unveiling what they have been working on in the next week or so. Looking forward to that - this next phase should define Wes as our CEO.

3. Audit Committee. Did anyone read about or know about the 'Audit Committee'? I've never seen this written about on the forum. It's in your package I received in the mail today. It's 3 'independent directors' comprised of Blasutti, Hamilton and McKay. They are responsible for the integrity of ALL aspects of the Company's internal actions and decisions. It's Appendix A and goes on for 9 pages -covers just about everything and is in the interest of protecting, The Shareholders. I just bring this up because of the seemingly constant distrust I read about on this forum. It's all there...in black and white. I would suggest that if they were in fact malicious, or out to screw retail - you now have the grounds to sue them.

4. November Rain - very interesting post about South Africa. Not sure if you are in the 'KNOW' but it makes for a very compelling case that a deep pocket player from South Africa would back Noront. I like your theory there. Wes' line from the lunch was that the oft repeated joke he heard on the SA trip was that the only problem with his chromite deposit was that it wasn't theirs. Maybe someone is planning on following up and wanting to change that? If I were a chromium expert in SA, I'd gladly set up shop in Canada and get some of the good stuff at a price of $xBillion. The easy part is getting it out of the ground and shipping it. The hard part is finding where it is and knowing where to sell it. Seriously, who else would even get in the chromite game with ZERO experience. Most major companies stick with what they know - aka Barrick, Vale-Inco, Goldcorp, Potash, RIM, etc.....

5. Proxy. I for one am in favour of the # of and the nominated directors, the MSCM Auditors but not sure about the Stock Option Plan. I'd love to hear some comments on this. In short it sounds like they would like to be able to dole out up to 10% of the outstanding shares as options whenever it suits them. Picking up FWR will allow them to dole out more. I don't think it's outrageous - I would just like to compare to other similar situations.

6. Global Economy. 1-2 yrs. US$ is going to continue to tank. Gold and commodities will continue to rise in terms of US$ North American standard of living is going to decrease. This is the principal reason I am in this stock. I would love to have a 'friendly' debate in the OT Forum if anyone should desire. For this point, I am 100% certain.

Hoping for more of the same this week....

Brattymack

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