The attempt to bring a positive spin to this board and to the desription of Noront´s future seems to be fading lately on this board.

For every positive argument we seem to get 3 negative ones.

I think, we are in no way in that situation anymore to be accused as being a pumper board full of permabulls who promote only blue-sky potential (situation 2007/2008).

On the other hand, Noront´s development in the last two years is still not short of being spectacular (at least for investors who WANT to see this).

But to restore the balance (because I would call myself a Noront permabull and have made countless positive comments), I summarize the lastest negative arguments (mentioned in recent months on this board) for everybody in the following TOP 10 list (note: this is not the author´s view neccessarily):

Top project Eagle´s Nest with several ´problems´:

1. Tonnage: ONLY 11M tonnes of high-grade Nickel with some ´by-products´ (see 4.)

2. Infill-drilling results REDUCE tonnage (???) (we have not even ´a cigar´)

3. depth > 1500m won´t be mined (and they problably don´t find anything economic down there anyway)

General issues:

4. remoteness of area

5. no infrastructure

6. small Chromite deposit

7. high number of outstanding shares (180M)

8. further dilution coming (heavy spending on exploration budgeted)

9. 59% institutional ownership leads to sp manipulation and neglection of retail investors (information)

10. questionable management with a ´non-presentable´ CEO (public appearances)

I hope, this summary contains the most important points for all ´glass half full´people here and we can move on.

Maybe someone can make an effort to look for positive points (because I´m fed up of argueing those).

FANTOMAS