Here Is The Stock That Will Make Us Rich

[lor]

Hi everyone, Another good day for NOSOF. Here is an interesting post from agora board. Sweet Dreams til tomorrow, Lor

Late day Price Action is foretelling.

Posted by: Rundle on March 25, 2008 09:25PM

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No matter how you dissect todays trading the remaining 30 minutes of action indicates something is on the verge of happening. Let's recap what we know:
1. DE2 assays to be announced at any time. (perhaps even tomorrow)
2. Visuals on DE3 rumored to be announced.
3. SPQ drilling and lots of rumors about Mr. Novak and Mr. Mungal up at McFaulds suggesting something is about to happen with SPQ on their recent drill compaign. (note: Mr. Mungal is a NOT consultant so who knows why he is up in the area.....maybe Visuals on DE3? I wonder)
4. Expected announcement of 43-101 in the near future; I believe it was delayed as they drilled out DE1 and DE2 to prove up the reserves.
5. Application to the TSX / Amex big boards exposing NOT to all the benefits of being on the larger exchanges.
Not to mention todays news on Burnt Hills or last weeks news on Windfall. Not to sound like a broken record, but there is way to much going on with NOT to not get excited about the prospects that we are on the verge of something very very special. So special I dare say we are not really prepared for what is about to happen with NOT or for the matter other McFaulds plays that will add to our overall wealth provided we have the patience to stay the course. WE are in for a world of change....the question is are you ready for it. Can you feel it!!
As for tomorrow morning I feel that something is about to happen. In the last 30 minutes of play investors were picking up the ask price just to get in. (if we had greater volume at end of day then I would have been screaming something is about to occur) Regardless, todays last half hour price action is a telling sign folks... Lets see what happens in the morning.
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[lor]

Here's 2 post from agora board.

Conversation with Mr. Nemis

Posted by: Nickelodian on March 25, 2008 11:06PM

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I am long on FWR and NOT, I called today to NOT to talk with IR, to my surprise I got Richard Nemis on the line so we discussed McFauld and Windfall. Here is a brief summary from this conversation:
1) He is convinced that all the players of the area have good chances to discover additonal deposits, he does not consider that his Eagle project is an exception
2) When I asked him about the number of drills on the site, his answer was that they have 100 people on site working today, draw your own conclussions.
3) He confirmed that they they are now working towards getting a handle on the tonnage for DE1 , when I asked if this was still open at depth he answerd definetelly.
4) There are several companies he likes in the area including WSR ,FNC and FWR
5) Windfall will make soon news when they host the press and media for a photo opportunity to go over the newly found high grade drill results and the implication to the project
I asked about NR, he of course would not provide a date, all that he said is tha they are working on a couple of items and we need to be patient
This will get red hot soon, and bodes really well for FWR, NOT and the whole area play
Nick
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[lor]

Genuity believed recently as January that as much as 20% of Noront is held by majors. The majors are at the doorstep, and they are waiting. Although tonnage is important, the possibility of this discovery being a previously-unexplored Ni Cu PGE belt must be a curve-ball they weren't expecting. The majors will not want to wait for DE5 to put their foot in the door. As another poster said earlier, it is strategically important to the majors to protect and control supply which could also mean preventing acquisition by competitors (just as a puppy would bite hold of three tennis balls to prevent another from getting one). There will come a point when risk-assessment models suggest stepping into the play is less costly for a major than waiting. Whether this stems from DE2, or DE3, I cannot see Richard settling until drilling proves there is not another DE to be found.
So, we continue to wait. As solace, here are some words of comfort from the Feb 26 Genuity Report:

"we note that at Eagle One the highest Pt grades at +40g/t Pt were associated with the only assay interval described as a "breccia sulphide" mineralization type)."

and this description of core from DE2:
Hole NOT-08-1G2 was drilled at local grid coordinates 32+17E, 5+73N with an azimuth of 155 degrees and initial dip of -50 degrees. After 10.9 meters of overburden and limestone the hole entered a strongly altered peridotite. A mineralized deformation zone was encountered over a length of 29 meters between 39 and 68 meters downhole, comprising a 3 meter section of massive sulphide-magnetite breccia and units of sulphide breccia with widths ranging from a few centimeters to a maximum of 1 meter in length throughout the entire zone. The hole was terminated at 239 meters in an altered peridotite.

 

[lor]

Looks like news will be coming soon! This is another post from agora board. Fasten your seatbelt this could be a wild ride:missingte

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O.k. I had the pleasure of talking with Denise at the office. She is a wonderful person and incredibly easy to get along with. The conversation was pretty short as there was no one else to talk with. Here is the meat and potatoes of it:

1. Do you expect we will see a news release soon?
Yes, I think we will see news shortly, that much I can tell you.

2. How is the drilling going at this point?
Things are going good and they have 3 drills on site right now. Vivianne is working hard now and Bobby is on the way in a week or so.

3. Is Neil Novak up at McFaulds?
Yes, Neil is up there.

4. Why did Neil go up there, was it last minute?
No, this was a planned trip with a number of geos.

5. Why is he up there?
She wasn't exactly sure as to his reasons for being up there.


So, in closing, there wasn't a ton of information transferred but I got what I wanted, NR soon!!! I would imagine we will be seeing some panic buying throughout the day, make them pay!

Good luck all,
d12

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[lor]

Another post from agora. Stock may be halted tomorrow with news of DE3, time will tell.

Just talked to Richard Nemis

Posted by: glorieux on March 26, 2008 04:51PM

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Richard was not available for most of the day today. When I did get a chance to talk to him he was in a very good mood.
Here is a resume of the conversation:
No timing on Ni 43-101, it will be done when it is done
Drills are currently on DE2 and on DE3. A third drill is on site waiting to be deployed.
They are doing every geophysics test possible on the anomaly directly to the south of Eagle 1, that is 100% on Noront property, not on the shared border with FNC. He called this "anomaly 1". I found it interesting that the anomaly to the south west has been named DE3 but that this anomaly, which has been drilled has not yet received the "title" of DE4. The fact that he kept reffering to DE3 as that when talking about drilling there drove the point home that they have hit there already. If they had not hit there, they would not name it that. They would reserve that "title" to the 3rd anomaly drilled that showed significant mineralization. So I believe that we now have 3 deposits.
No discussion of assays...they will be discussed on the next news release that will be here on...of course he did not say.
It is a great time to be Noront and I fully expect a NR very soon and there will be news of DE3 on that NR IMHO.
Warmest regards to all NOT longs,
Glorieux
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[lor]

No news today! Here a good read from agora board.


A Simplified Generic Model for Formation of Magmatic Ni/Cu Deposits

Posted by: geoprof on March 27, 2008 05:20PM

I would like to offer the following, which I hope will provide a much better understanding of the above. It is based on my own experience, education and the work of many geoscientists, especially Tony Naldrett, over the years.



Magnesium-rich, ultramafic/mafic magmas exist deep within the earth, probably within the mantle. They are by nature, more Ni, Cr, Cu and PGM rich than other more felsic (e.g. granitic) magmas which are probably formed by remelting of existing crust. For one reason or another, they rise and as they rise they may come into contact with sulphur-rich material as they entire the crustal zone. Being a high temperature liquid, these magmas can dissolve sulphur. As they continue to rise, they begin to cool and reach a temperature where they become sulphur supersaturated. Once that occurs, liquid sulphur-rich blebs begin to separate from the parent magma and because Ni, Cu and PGMs are "chalcophile", i.e are drawn to sulphur, like bees to honey, they become dissolved in the sulphide blebs and more or less leave the silicate magma. With more cooling, grains of chromite and olivine will begin to crystallize along with the Ni/Cu/PGM-rich sulphide blebs. Due to density considerations, all three will tend to sequentially settle to the bottom of any magma chamber. Hence, the volume of the original, parent ultramafic magma is a major determinant of the final amount of Ni, Cu, Cr and PGMs in basal accumulations upon solidification. Final tonnages and grades depend on the amount of sulphur originally assimilated, the volume of the parent ultramafic magma and the cooling rate.

Again, the volume of peridotite (representing at least a portion of the parent magma) compared to the volume and grades of sulphide mineralization observed to date at the Double Eagle property is much too small to have generated the amount of Ni, Cu, PGMs and Cr in the mineralization which has been intersected to date. I think that we are observing only a portion of what has been the result of a very efficient crystallization process, brought on by a relatively slow cooling, of much larger body of the parent magma which remains to be discovered. Hopefully, that body will still contain basal accumulations of Ni/Cu/PGM mineralization comparable to what we have seen on the DE property to date.

 

[lor]

Hey, Is Anyone Out There?

 

[joelatti]

Hey Lori...we are out here, BUT this is NOT a stock that you have to watch everyday...It will be a while before we get a BIG jump IMO....Not only do to market conditions but with all these JR you will see ALOT of hype and very little "substance" just a bit of advice(with NO disrespect being meant) don't podt updates everyday, post once a week...You'll live longer(less stress) and you won't miss anything...I am a fellow NOT holder with about 5K shares I am holding for Long term, but I've been through MANY of these and Most are NOT fruitfull...So wish us luck we WILL need iT

 

[lor]

Date Published | Mar. 2008

Noront discovery highlights record year

BY NORM TOLLINSKY

A lot of people in the mineral exploration business spend decades raising money, acquiring properties and funding exploration programs with nothing of any significance to show for it.

After a career of close to 35 years in the business, Richard Nemis, president of Noront Resources, was still in search of the motherlode in 2002 when De Beers Canada and two joint venture partners reported some interesting drill results in Ontario’s Far North.

Intrigued, Nemis spent the next four years acquiring a land package and negotiating option agreements to fund exploration. Today, Toronto-based Noront Resources is the talk of Bay Street and Nemis’s phone won’t stop ringing.

In a year of record exploration expenditures in Ontario, it’s Noront Resources’ Double Eagle project in the province’s James Bay Lowlands that tops the list of exciting discoveries.

Drill programs

Thousands of claims encompassing hundreds of thousands of hectares have been staked, 20 junior mining companies are carrying out exploration in the region and a number of drill programs are under way, said Brian Atkinson, the Ontario Geological Survey’s resident geologist for the Timmins District.

High grades of nickel, copper and platinum group metals have sent Noront’s stock through the roof and attracted the attention of industry giants.

The original hole drilled in 2002 at McFauld’s Lake, 560 km (348 miles) northwest of Timmins, intersected volcanogenic massive sulfide (VMS) mineralization with copper values of 6 to 7%.

“I hadn’t seen anything quite as good in a long time,” said Nemis. “The area had never seen much drilling or exploration because there are no outcrops – it’s all bog, so I decided to go in and get some ground.

“We staked as much as we could with the limited funds we had at the time.”

Noront Resources negotiated several option agreements with other junior mining companies to fund exploration over the next few years, but the results were disappointing.

Targets were identified using airborne geophysical studies, however, the focus was on geophysical signatures for VMS deposits, not for signatures that would represent a magmatic type environment.

Nemis was intrigued by some “very, very unusual geophysics” on a couple claims that were tied up in litigation. “It looked spectacular,” he said. “It just begged for a diamond drill.”

When ownership of the claims was resolved, Noront Resources swooped in to buy them and proceeded to drill the anomaly.

Discovery hole

“That was hole number one, the discovery hole,” said Nemis.

Assay results showed average grades of 1.1% nickel, .9% copper, .7g/t platinum and 2.1g/t palladium over a length of 71.5 metres.

Noront Resources’ stock went from pennies to $1.25 in late 2006, then shot up to $4 in September 2007 when the results from hole number five showed average grades of 5.9% nickel, 3.1% copper, 2.9g/t platinum and 9.8 g/t palladium, as well as gold, silver and rhodium over a length of 68.2 metres.

The company now has 65,000 hectares of claims staked, three drills turning and consistent results from 29 holes.

“We know we have a deposit, but we don’t know how big it is,” said Nemis. “Another six holes and we’ll give it to engineering to work up a 43-101 resource.”

All of the drilling to date has been to depths of 240 to 250 metres, with mineralization encountered in some holes as close as seven metres from surface.

Comparisons with Voisey’s Bay, a nickel deposit discovered in northern Labrador and purchased by Inco in 1996 for $4.3 billion are tempting.

“The difference with this thing is the grade,” said Nemis. “If you just had platinum and palladium at these grades, you’d have a mine. With the grades of copper, you’d have a copper mine. With the grades of nickel, you’d have a nickel mine. Voisey’s Bay has no platinum or palladium.”

Nemis has his strategy all mapped out. Financial advisors have been retained and up to a 10 per cent stake of the company may be sold “for a very large sum of money” to help develop the area play.

The zone of interest forms a big arc dubbed the Ring of Fire. The magmatic deposits are inside the ring and the VMS deposits are on the outside. The Eagle One occurrence is responsible for all of the buzz, but there are numerous other targets and Nemis hopes to see Eagle two, three, four and five as exploration continues. The project as a whole has been named the Double Eagle.

Joint ventures with other exploration companies are being negotiated to accelerate exploration activity.

“That’s what the area needs: a lot of money spent on it.”

At some point, the area play will be packaged and sold to one of the giants in the industry, possibly Vale Inco or Xstrata.

“The key for us is to maximize the price that’s paid, so the shareholders get their due. That’s what I’m here for, to make sure the shareholders are taken care of. I don’t want to sell it cheap. I want the biggest bang for the buck.

This is the plan. When we’ve developed it to a stage that’s intriguing to a major company, they’ll be there.”

The isolated location of the deposit and the swampy terrain may be the biggest obstacle to overcome.

Road access

“With a gold operation or a diamond operation, you can fly your product out, but with a base metal producer, you pretty well need a permanent road or rail link to get your concentrate out,” said Mark Smyk, the OGS’s acting regional manager for northwestern Ontario. “That puts a whole new wrinkle in your economics, so it’s tough. What will likely happen is that exploration will continue until they get to a point where they pretty well know what they have and then they’ll have to crunch the numbers.”

Smyk estimates that the nearest permanent road is 150 to 200 kilometres away. A winter road to Webique, a First Nation community approximately 90 kilometres from McFauld’s Lake, offers another possibility, but global warming and the uncertainty of ice conditions make this a risky alternative.

Coming to an agreement with the First Nation communities in the area could also be challenging, but Nemis is confident that something can be worked out.

“We can work with the Native groups,” he said. “I know we can. I’ve met with them several times now. They’re not unwilling to work out a deal.”

Smyk concurs. Webique, in particular, has been “very receptive” to opportunities related to the mining industry, he said. Members of the community have participated in prospecting courses and found employment with the junior mining companies active in the area. Businesses in the community are benefiting from the activity, too.

“They’ve really embraced what’s happening there,” said Smyk.

http://norontresources.com

“I just had to keep drilling. Just like the little pink bunny. It’s persistence. I always thought I’d hit the motherlode. ”
-Richard Nemis, president and CEO, Noront Resources

 

[Lovetowin]

Hi everyone. Hey Lor, are you out there? This is the first time all week I have been able to check in and boy, has the stock had its ups and downs all this week. This is going to be one of those stocks that will add gray hair to my head. Hahahahaha But, I am in it for the long haul and buying in at an average of 4.25 its going to be fun to watch in 18to 24 months. I am hoping for between 35 to 50 dollars a share and that will help out my retirement alot. Stay long and go NOSOF/NOT.

 

[lor]

joelatti, Thanks for the advice, and I do agree with what you said. But I have to say, I have quite a few other stock and I don't follow them everyday or every week. But with NOSOF I do because I really enjoy reading & learning about ths stock, It's lke a mistery and there are so many stories waiting to be told. And like a kid at Christmas, I'm excited by this stock. (My daughter tells me she goimg to have to commit me) I bought her stock in NOSOFat $3.61 a share for a wedding gift. I email her & 9 other people (that bought this stock when I gave them a copy of info I keep on this stock) everyday with iinfo and my personal comments and humor. And I wish all of us with patience will be rewarded!

Hi Lovetowin, They must be keeping you busy at your new job! Have a good weekend everyone, Lor

 

[lor]

Here's a post from A B, I hope this guy is right.

the next few weeks in NOT history. IMCO within the next 14 days we are going to have the assay results on DE2, and they will be great, we will have visuals on DE3 and these will be spectacular at that point we will see the SP move to +$10. The 43-101 will be released and this will stabilise the future value. I strongly believe that at least one other Junior will make a major discovery and this will happen within the next 3-6 weeks, when this happens, and it is inevitable, all players in this area will reap the benefits. You can ask on what basis I have based my assumptions. Well it's based on a whole lot of due diligence, I have read every article ,every post , sedar and each of the websites of the juniors who are involved at McFaulds. In addition I keep my ear to the ground and am fortunate to glean information from informed folks as to what is happening at the various sites.
Let me assure anyone who may have doubts as to the future of NOT, we are on the cusp of verifying what may be the most valuable Nickel/Copper find in Canadian history. If you own shares in NOT and are long you and I will become very wealthy in the not too distant future. I also concur with sharewizard who said that NOT will be bought out by a major before it reaches $100. Though having said that, , I'm a great believer in the "herd mentality" and if this thing does start to take off the majors may miss the boat and we could see it hit $100+ before they an get a handle on it.

 

[mickj]

Here's a post from A B, I hope this guy is right.

Me too. :lolBIG:

 

[lor]

Here is a post of a phone conversation with the CEO from NOSOF.

Richard conversation

Posted by: d12 on April 01, 2008 04:04PM

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Well, this isn't going to be as long. I just spent a ton of time writing up a report and I lost everything. This has happened far too often. Anyways, here is the shorter version:

When can we expect news?
An update should be coming shortly. I can't comment other then something will be coming very soon.

How is Windfall coming along?
The portal is complete and they have been using it for the last few days.

How is the 43-101 coming along?
We are working as hard and as fast as we can. We may still have to go back and drill a little more as Eagle 1 is not closed off.

When can we expect the 4th drill?
The 4th drill will be in soon, before the end of the month.

Is there still lots of blue sky?
There is blue sky everywhere up there. No one is giving anything for blue sky value, and there is tons of it. We eventually are looking to have control of 80% of the ring of fire.

What do you think of the current SP?
It is low. There is no value for Windfall or Burnthill or for any bluesky. It is low.

Do you think the warrants will be exercised?
Not if the share price isn't above $6, but there are lots of updates between now and then that should help.

What is the size of Eagle 1?
Well, it isn't 1 MT nor is it 10 MT, it is somewhere in between.

But it isn't closed off, right?
Certainly not.

Are there still majors sniffing around?
There are all kinds of majors.

Do any of them want a piece of us?
I can't comment, but there are majors around.

Have we hit Eagle 3?
Nothing has been release or written so I can't be said that it is a hit yet.

So there you have it folks, nothing to worry about and the sky is really blue. There was lots more that I could tell Richard wanted to say but his hands were tied. IMO something will be out this week that will make the decision to exercise the warrants very easy. I have a feeling this is why there has been a delay. They want to silence all critics once and for all and the only way to do it is to release stellar news.

I think now all we need to do is be patient and let them drill away. Remember, the more drilling we do the more money we will get. When this thing gets taken out by a major we want as much of the discovery proven so we don't get something pathetic like $15. Richard and the gang are trying to maximize share holder value, lets let them work.....................

Take care all and sorry for the delay, but I had to type it twice

d12
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[Brotherwo]

what's everyone thinking about MSTF: OTC these days??:think2:

 

[brownclown]

Doug what's up with MSTF

 

[lor]

Hi everyone, Here is a post from AB. Two days left for warrents to be exercised, hopefully some assay results soon.

I just talked to Richard. ceo of nosof

Posted by: tcp1002 on April 09, 2008 01:23PM

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Here's what he had to say.
On the China project. Newport will begin drilling this summer. Richard has received a bunch of info on the project and he said it looks good.
On Windfall project. He said it is coming along. The Ramo has been started and they are going underground now. By the end of June they should be able to hit the first zone.
I asked why they were two announcement on the Bold property. He said one was by Bold and the other by Noront and he mentioned Hawk. I asked which of the two he liked better and he said they were both good.
I asked how much Money we have in the bank and he said he didn't know exactly but there was plenty.
On the Double Eagle project. He said he is frustrated that it is taking so long to get results. He said that there is a new lab going up near the airport in Thunder Bay and Noront has invested money in it. He says they are doing prep work on samples there now and expects the equipment to go in early May. He said that once it is up and running we won't have to wait months for the results and we'll get them a lot sooner.
I asked how many drills we had at DE and he said 3. I asked if they were all at DE or loaned to other projects and he said they are all at DE being used by Noront. He said one drill was at DE2 one at AT3 and he wasn't sure about the other.
I asked if we had a DE3 and he explained the following. The project and area is called Double Eagle. We've found ore bodies in two arears and they are called DE1 and DE2. We are currently drilling at AT3. He said the AT comes for the Air surveys they did (I can't remember the exact term he used). So once they find an ore body it will be changed to D3. I asked if there was a AT4 and AT5 and he said they are reviewing this now and cutting lines to go in and drill.
I asked how many people we had at the camp and he said 80-90 right now.
I asked about the 43-101 and he said that it is progressing but they need do drill more holes for the width. I said when will it be ready and he said another month to month and a half it should be out. he said the more holes we drill the more we'll find to increase tonnage. I aske dif he had aguess on what we have up to now and he said he didn't.
I asked if there were any issues that wouldbe of concern and he said none. I asked if it was still blue sky and he said yes it's all blue sky. Then he said we know we have great potential up there and it will take some time to prove it.
I asked if we were stopping at all during the summer as it gets wet up there and he said no we will be drilling all summer.
I left the conversation at this stage and thanked him. About 5 minutes latter I had forgotten to ask about the warrants so I called back but he had gone to lunch so I asked the receptionist if the warrants were going to be excersised and she said they would not know until the date is due. Sorry I couldn't remember to ask Richard.
So there you have it folks. Still blue sky and we need to be patient as Richard told me during the conversation and the fact that we know we have all this potential.
As you all know I'm still holding after all these years.
GLTA and hang in there. It takes time to build and good company with lots of value. Tcp
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[lor]

Here's an encouraging post from AB about NOSOF. Have a good day & weekend. I'm off to my cabin for a much needed relaxing weekend of fishing, eating & :toast:.


<TABLE cellSpacing=0 cellPadding=0><TBODY><TR><TD>The warrants will be exercised at a price of $5.00
The holders now have a ROI of $.30 based on todays close...
Most of these people have been to site and have seen first-hand what we have., on top of the fact that they understood what they were getting into at the $4 PP, so where does that leave us, the investor.
We have news pending about;
1) Rhodium results on DE1
2) Assay results on DE2
3) Visuals on DE3
4) NI43-101 on DE1 (Ghost bridge to DE2 may Delay)
5) Visuals on DE4, 5, 6 etc
6) Windfall news (overdue)
7) Burnt Hills News (overdue)
8) China News (Pending)
9) Mexico news (Pending)
Where is the down side?
Most of this is due whithin the next 2-3 weeks. And what will the SP be then?
$10, $12, $15, $25
Look back at what Diamond Fields did during this time and realize we have a winner. One that only comes along once in a life time and either your in or you missed it.
I for one am holding strong, like many others here, and will take the hits as they come, with the realization that in the end, there will not be another oportunity like this for a very long time...

GLYAL
DR
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[dougconnection]

source said this month will be a very good month for news. add shares at these levels if you can before she runs again, but this time to $12

 

[lor]

Here's an article from Nat. Post a very good read on NOSOF & the Ring of Fire. This and other news expected should get the price of NOSOF at the rumored $10. $12. price. Lori


All eyes on the Ring of Fire

Investors await junior miner's report on size of mineral deposits at the site
Peter Koven, Financial Post Published: Monday, April 14, 2008
AT MCFAULD'S LAKE, Ontario -Thousands of investors have their eyes on the Ring of Fire. But on first visit, it is hard to believe.
The Ring of Fire, located in the McFauld's Lake area in the James Bay Lowlands, is as remote as it gets. Flying over in a helicopter reveals nothing but frozen lakes and forest stretching as far as the eye can see. James Bay lies about 150 kilometres to the east, and the closest community is Webequie (population 642), a First Nations village about 100 kms away.
But in a world where quality mineral discoveries are becoming increasingly rare, this place has captured the imagination of investors like no other in recent memory -- even if the idea of building a mine here is unfathomable at this point, and truly big discoveries have not been made.
The interest started last year when junior miner Noront Resources Ltd. made an ultra-high-grade nickel-copper discovery, also turning up significant grades of platinum and palladium.
That triggered a wild staking rush as a battalion of juniors swooped in and claimed almost every inch of prospective land in what became known as the Ring of Fire (after the Johnny Cash song). The staking continues and is thought to total about 4,000 sq. kms.
"I think it's the most exciting discovery of the last 10 years in Canada, no question," says mining veteran Pierre Lassonde. "It's got an enormous amount of potential and you've just got to love the grade."
Noront has become a phenomenon. Online message boards are filled with commentary posted on a minute-by-minute basis as retail investors track virtually every big trade of the stock.
The bigger players believe in it as well; Noront's major shareholders include celebrated names in the mining industry such as Mr. Lassonde, Eric Sprott, Rob McEwen and Sheldon Inwentash, Pinetree Capital founder.
Investors have been enticed by the incredible potential of the discovery: Richard Nemis, Noront's chief executive, compared the geology to the giant Voisey's Bay deposit in Labrador, and suggested it could be even bigger.
But at the Ring of Fire it is clear a lot of work has to happen first. Apart from the staking lines and a few small camps, from the air the ring looks indistinguishable from any other corner of Northern Ontario. While an incredible amount of land has been staked, only a few companies (including Noront) are active with drilling, and it will take a very long time to drill all the targets. While a few of the juniors have reported interesting developments, there has not been anything of the calibre of Noront's flagship "Eagle One" discovery that got the area going. And Eagle One, while high grade, is not enormous.
"Until you have a number of these deposits that can carry the burden of infrastructure, it's way too early to talk about [mining]. This is just a drilling play right now," Mr. Inwentash says.
Finding the resource in the Ring of Fire has been very hard, because there is no "outcropping" of metal on the surface. Many of the world's top geologists have identified the best targets, but they are educated guesses. The land position is so vast and remote that most of the geophysical work must be done with helicopters, which are constantly flying supplies to various camps. Just getting to Noront's camp requires a 10-minute helicopter ride from the main camp.

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In the coming weeks, drilling will get even tougher as the lakes melt and the lowlands become a swamp. While the drillers on site have not enjoyed the -40° winter weather, they consider it a welcome respite from the plague of mosquitos and black flies around the corner.
This all means it will take a very long time for the full potential of the Ring of Fire to be realized, and key shareholders say they are committed for the long-haul. But as the news flow slows, trading volumes on Noront shares have eased and the initial excitement has worn off.
Some of that will return when the company completes an initial resource estimate (expected soon), but that is just the start. The question on everyone's mind now is how big this discovery will turn out to be.
Geologists say so-called "volcanogenic massive sulphide" occurrences like the one at Eagle One tend to appear in large and small clusters. Noront hit another one with Eagle Two, about two kilometres from Eagle One. But the really big targets, if they exist, have not been found.
"We still need confirmation this is a world-class district," says John Kaiser, publisher of the Bottom Fishing Online report. "But these things are not big and they can be very hard to find."
The Ring of Fire may turn out to be a collection of small, high-grade deposits that are collectively world-class, rather than anything as huge as Voisey's Bay, he says.
Mr. Lassonde has his own theory. He thinks the geology bears almost no similarity to the Sudbury Basin or Voisey's Bay, but that it looks a lot like old nickel mines discovered by Western Mining Corp. in Australia and Jinchuan Group in Asia. In each case, the largest deposits were found deep below the original discoveries.
"The key will be to first drill on surface and discover the ore bodies closest to surface, because that's where you will get your money back," Mr. Lassonde says.
"It will take two or three years to define that. After that, the key will be to start drilling down deeper."
He said he will be "absolutely the most surprised person in the world" if the discovery does not get bigger in the months and years to come.
In the meantime, everyone is just happy that the Ring of Fire has revived interest in Canadian exploration.
"It's very exciting for the company and Ontario to have these type of results," says John Hughes, an analyst at Desjardins Securities.
"After several years in Canada of seeing exploration budgets increase on an annual basis, we're finally starting to see some new finds with potential new resources, which is really what we need in this country."
pkoven@nationalapost.com