It's hard to find sometimes.

There is a reason why they have done this, and IMO it's not likely that it's to gain control of the company or to help out their buddies.

I tried to confirm this, but I believe the Flow-Through style tax benefits were set to expire this year but were extended for more year. I purchased some of the 2.80's and I am expecting a significant rebate from the gov't. Unfortunately I just recently submitted my taxes to my accountant so I'll have to wait a bit before I see that rebate or refund.

However, as another example - I encouraged my sister to buy some of the 2.80 FTS. She happens to be a CA and informed me how she got back $20k just today on her taxes, largely due to her 50k investment in NOT. Makes those 2.80 shares look a lot better now, doesn't it?

My point is, right now happens to be a great time for those who benefitted from the previous PP to put their tax savings to good use, and perhaps buy some more? If memory serves, the actual cost of a 1.83 share would be less than a $1 if you are in the highest tax bracket. (don't quote me on the figures, I haven't worked them out yet but it's something like that)

Also, obviously - this economic climate is a very difficult one in which to raise capital. A bird in the hand as they say. This FTS method of raising capital is extremely effective and I have a suspicion that Dundee will be over subscribed on this one. I think Wes is getting the money while its easy to get. This kind of capital must be used exclusively on Canadian Exploration Expenses. Hopefully this means socking away at the drilling over the remainder of 2010.

When I bought into the last PP I remember thinking my best case scenario would be to buy the FTS at 2.80, get the rebate and use that money to buy more NOT shares. Turns out I probably can, and they may just happen to be more FTS!

And finally, check this out. I buy my 2.80 FTS last year and I will get at 50% back (very rough estimate) in the next month or so. Several months ago I technically sold (further explanation required) these around 1.60 and will have to pay the capital gains from an adjusted cost base of zero. However I had lots of room in my RRSP so I moved them in there, so I will get a refund from that and hopefully enjoy the tax sheltered gains in the future. I'm waiting for my accountant to call me and say WTF, but I know there is some major rebates coming my way...and seriously, probably too many and I will likely defer some of them.

Also, I'm quite certain that only individuals can benefit from FTS. I don't think this is a ploy to garner institutional control. Just guessing but I would think that Dundee and Wellington happily present this deal to some of their wealthier clients, like a dog bringing a bone to it's master. It's a win-win for them and Noront. The government ends up on the short end of the stick - which is where they should be these days anyways..but that's an entirely different discussion. It's also why I think they want to put an end to this tax break.

Maybe there's a shred of good in this? Grab the fresh money before it's gone and just go full boar on drilling for 2010. Again, I'm no expert but I think there are time constraints, so this money needs to be spent in reasonable time....which could be very good for our share price.

Wes Hanson, President and CEO stated, "Completion of this financing will give Noront the opportunity to continue exploring for nickel, copper, platinum and palladium using flow through dollars, while conserving hard dollars for other purposes including engineering studies aimed at reducing project risk. We expect that the flow through dollars raised in connection with this financing will be sufficient to allow us to complete our 2010 exploration program, which is focused on resource expansion at Eagle's Nest combined with exploration at AT-12 and other promising geophysical targets within our Ring of Fire landholdings."

Hoping these thoughts spur further thoughts....

B