This timing change for the 43-101 bothers me as well. I can see where you are coming from SG. The line from Noront is that they want to take advantage of the drills not turning to get a new resource estimate on Eagle's nest going down to 1100m. This estimate costs money...why spend money on this now unless you have a reason to have a new resource estimate done now?

What are the reasons that Noront would want a resource estimate now? What made them change their minds from Q4 to Q1 2010? I have a hard time believing it is simply to take advantage of down time. Lots of other stuff to do right now. Plus, they have to contract this out to a 3rd party so it is not like they are using the down time themselves. I do realize they have to stop drilling to have a 43-101 done but we are potentially only half done at Eagle's nest.

So again, why now?? Is it to shop the company for a buy out? Is it to wake the market up and help our share price-maybe they realize that at this low valuation, we are vulnerable to a hostile take over attempt? How many of us would take $5.00 right now after all we have been thru?

However, Noront is on the record as saying Eagle's nest will come in at 10-15M tons and Dundee's report stated 10-20M tons. I believe we will have more than 10 but less than 15 with our current drill holes. So what will this prove? Will it really get the market to wake up?

Could we be in negotiations with a major for a JV on Eagle's nest and they want a 43-101? I have been told that majors do their own calculations and do not rely on 43-101 but not an expert in this matter.

Anyone else have ideas why we move up the resource calculations by almost a year? Why do we want to spend money on a resource estimate that we know is only half done? We know that deep drills are coming soon and will potentially blow that estimate out of the water...so again, why??

Thinking hard and no real answer here but something is not adding up in this scenario as SG has alluded to. So far, I see no negative answer to this question, only positive ones.

To resume why we are doing a resource estimate now:

Shop the company or at least Eagle 1

Wake up the market that our SP/MC is undervalued

A potential major JV partner wants it done before moving forward

The frustrating part is we will probably not get an answer on this for a few months but still fun to speculate!

Glorieux