On March 19th, 2010, we traded just over 2M shares. That equates to 1.06% of the outstanding float of 187M shares.

The time before that was December 14th, 2009.

In seven months, we have twice traded just over 1% of the outstanding shares.

Plenty of bump, grind and squeal at lower numbers, but nothing nearing significant figures.

Conclusion? The market realizes that the Noront story has not yet been told.

Since May 8th, 1996, only on one occasion, the week of Sept 7th, 2007, did we trade over 15 million shares. I do not remember the outstanding float at that time, but I would be surprised if it was less than 120M, such that just over 10% traded.

For all the concerns and occassional moans (many justified, some less so), taking the larger, big picture, view, we have effectively remained in a holding pattern.

Given that a large percentage of our float is held by institutional investors, who are not known for their fortitude if the outlook appears grim, coupled with the expanding nature of the resource, this remains a hold in the crazydik portfolio, with occasional buying raids from weaker hands. I have not seen any massive dumps into the market.

The ocassional burps from our well fed management (witness this last NR) do not appear to be designed to inspire confidence or loyalty. But I will not let my personal feelings for these folks to cloud my investment strategy. Although my faith in management has been sorely shaken, I will not be shaken loose.

crazydik