Just a 'Sherlock Holmes' follow-up on goldnugget's find...

I find it strange that this property seems to be lost between 2009 and 2010 without any mention of a write-off in the FInancial Statements...

In the April 2009 FS, the Bao Tou subsidiary is mentioned :

"YEARS ENDED APRIL 30, 2009 AND 2008

1. NATURE OF BUSINESS AND GOING CONCERN

Noront Resources Ltd. (the "Company" or "Noront") is an active resource exploration company listed on tier 2 of the TSX Venture Exchange (“TSX-V”) involved in the acquisition, exploration and development of properties prospective in base metals, including: copper, nickel, platinum group metals, vanadium and chromite. The primary focus of the Company is its Double Eagle Project at McFaulds Lake, in the Ring of Fire area (“ROF”) that is located in the James Bay Lowlands, Ontario, where Noront has had five discoveries, since August 2007. Noront also has other exploration projects and properties in Ontario, Quebec and New Brunswick within Canada, as well as in Mexico and China.

…

Principles of Consolidation

These consolidated financial statements include the accounts of Noront Resources Ltd. ("the Company") and its wholly-owned subsidiaries, Billiken Syndicate Inc. ("Billiken"), Noront Resources 2008 Inc., and BaoTou Noront Mineral Development Co. Ltd. ("BaoTou") in China. All significant intercompany balances and transactions have been eliminated upon consolidation."

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And then we see nothing on Bao Tou (or the 'property in China') in the April 2010 FS:

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"YEARS ENDED APRIL 30, 2010 AND 2009

1. NATURE OF BUSINESS AND GOING CONCERN

Noront Resources Ltd. (the "Company" or "Noront") is a resource exploration company listed on tier 2 of the TSX Venture Exchange (“TSX-V”) involved in the acquisition, exploration and development of properties prospective in base and precious metals, including: nickel, copper, platinum group metals, chromite, precious metals and vanadium. The primary focus of the Company is its McFauld's Lake Project, in the Ring of Fire area (“ROF”) that is located in the James Bay Lowlands, Ontario, where Noront has had five discoveries, since August 2007.

…

Principles of Consolidation

These consolidated financial statements include the accounts of Noront Resources Ltd. and its wholly owned subsidiaries, Noront Resources 2008 Inc. and Noront Mexico S.A de C.V. All significant intercompany balances and transactions have been eliminated upon consolidation."

GLTA.

BaBe.