Today's NR reaffirms and updates RN's findings from 2 years ago. This is valuable as we know Noront's institutional and retail shareholders are somewhat different now. I like the detail provided as to the planned methods of construction and operation.

As others have mentioned, the trailing average metals prices are low.

The report is based on the March /10 NI 43-101. We have had 4 - 6 drills turning continually since then. Recent discussions on this forum seem to agree that we are close to an additional 3 - 4 million tons of resource.....plus the deep drilling.

Other posters have pointed out......add value for the Blackbirds and Triple J. Let's not forget Thunderbird (potentially large Vanadium deposit)

I am surprised that the report did not mention Eagle TWO. Have we all forgotten? Extensive drilling was completed at Eagle Two. In a discussion I had with RN, more than a year ago, he commented that Eagle Two likely averages around 1% N. According to the NR, this grade may now be economically viable.

BTW, I still have all my shares, and then some, and remain confident in the resources in the ground.

C.