Check out the nickel price this morning on over the past month:

http://www.kitcometals.com/charts/nickel_historical.htm

What an increase.

The Indonesian Ore Export Ban and tensions with Russia have quickly put a "reality check" back into the price of this metal.

The Indonesian ban which many thought would not stick, looks to be here to stay. It has virtually crushed the future of the Nickel Pig Iron industry in China which is responsible for as much as 500,000 pounds of yearly Nickel production.

It will have profound effect on the price of Nickel over the next 5 years. I personally believe we could see other countries such as the Phillipines enacting the same type of legislation as Indonesia. Quality and reliable sources of nickel are rare and demand continues to grow.

Wes Hanson and the old team came to a figuire of $9.50 per pound of Nickel I believe in the Feasibily Study.

In my opinion, by the end of this year the world supply will be in deficit. By 2017, Nickel will be well above $10 per pound adding addition value to Eagle's Nest.

I encourage all Noront holders to become more intimate with the supply and demand factors around nickel. Research NPI to start, then go from there. It will show you really how valueable Noront's Eagle's Nest is.

I cannot think of another nickel explorer in the world other than Noront that has a Nickel resource with all of the following characteristics:

As large and high quality nickel source

The possibility to double it's resource with some simple drilling

Nickel Sulfate (Noront) vs Nickel Laterite (which is risky and costly)

Safe jurisdiction from Resource Nationalism

With the Nickel price now getting close to what it should be it will be an important peice of the puzzle for Eagle's Nest.

Onwards and Upwards,

JDR