Here Is The Stock That Will Make Us Rich

[lor]

Posted on AB, by: coswil on September 15, 2008 01:22PM
comparison to kemi is not giving NoT's chrome deposit justice. Considering JD 's post 14 km he is suggesting that this mineralization runs and huge widths and high grades, I used a in situ of 10 % and 3 % to value stock price potential .
The following are quotes from MD&A and 43 101 . This is not a 'dream ' drummed up in my head . Noront's management has repeatedly alluded to Kemi as a representative of Noront's chrome deposit. Kemi has 60 million tonnes. The aug slide show presentation on the Noront site states on page 19 $1890 is the value of "CONTAINED METAL VALUE. The sale of chrome only is
40% Cr2O3 would sell for $600 per tonne exports.

The contained metal value (high carbon 65% Ferrochrome) in a tonne of 40% Cr2O3 ore is $1890 ($2.05/lb Q3)
Considering comparison to Kemi 60 miilion tonnes and $1890 per tonne dividing by fully diluted share amount is not "IRRESPONSIBLE" There is enough evedence and communication from Noront management to justify this analysis. I suggest it is irresponsible some who try ti minimize posts by making allegation without their own proper due dilegence to back it up . It is clear that NOT feels this is a world class find. They have given us enough numbers and direction AND IT IS ACCEPTED BY THE SEC and they would not allow such statements to be made on the 43 101 and news releases if they were not accurate. You know this as well.



from 43 101

A geophysical anomaly known to correspond to the presence of massive chromitite persists for more than one kilometre along strike from the Blackbird One Deposit indicating that the potential exists for a multimillion ton resource comparable in size to the Kemi, Sukinda Valley, or Ipueira-Medrados Deposits

Kemi 60 million tonnes
Sukinda 28 million tonnes
Ipveira 30 million tonnes



We have just found that the mineralization has a trail distance of 14 km according to JD's due dilegence

MD&A page12
The Kemi Mine is the best described of these similar deposits
Ore reserves in January 2006 were 41.1 million tonnes grading 24.5% Cr2O3 with Inferred Resources of 86.1million tonnes at 29% Cr2O3. Average mine production is running at 26% Cr2O3 with the Cr/Fe elemental weight percent ratio at 1.53. These grades are significantly lower than what has been found at Blackbird One.

Grades at Noront’s Blackbird One compare favorably with those of the world's most important global chromite producers. The Noront deposit is the latest example of the Kemi Deposit type,
Blackbird One combined with the geophysical anomaly known as Blackbird Two indicate that the presence of massive chromite persists in the area and additional high gravity targets indicate that the potential exists for a multimillion ton resource comparable in size to the Kemi, Sukinda Valley, or Ipueria-Medrados Deposits
Looking to the future, Novak says, “The majors would like to come in here and make this a mining camp. That’s their style.” He adds: “We’re listening to everybody, and we’re talking to all the majors. And we didn’t go to them, they came to us.”

We have say 60 million tonne at 40% cr2o3 per tonne at price of $1890.00 per tonne
60,000,000 cr2o3/tonne x $1890.00 = $113,400,000,000
If we gave a discount say a worth of10% of total it would be 11,340,000,000 divided by 132,800,000 fully dilluted shares = $85.39 per share for the chromite.
If reduced it even to 3% would be $25.60 per share just for the chromit so far found.

 

[lor]

NEWS - Noront Announces Initial Nickel-PGE Results at Anomaly AT12 Provides Update on Other Double Eagle Drilling Projects

Posted by: AGORACOM on September 15, 2008 03:19PM


[FONT=Verdana, Arial, Helvetica, sans-serif]TORONTO, ONTARIO - (Sept. 15, 2008) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) wishes to present the following update on its exploration activities in the McFaulds Lake area of northern Ontario in the James Bay Lowlands.

EXPLORATION HIGHLIGHTS

1) The first assay results from Hole NOT-08-2G1 at anomaly AT12 include the intersection of three zones of nickel mineralization including 0.89% Ni, 0.35% Cu and 1.36 g/t Pd over 6 meters. Drilling continues on this anomaly.

2) Latest drilling at Eagle Two continued to probe deeper and delineate copper-nickel mineralization in a shear hosted sulphide setting (Eagle Two SHS Occurrence) now delineated down to a vertical depth of 400 meters along a strike length of 150 meters. Hole NOT-08-1G32 encountered 2.86% Ni, 0.56% Cu, and 0.15 g/t Pd over 3.6 meters.

The anomaly drilling program on our Double Eagle Project continues with one drill testing the chrome potential of Blackbird Two, located approximately 1 kilometre east of Blackbird One (chrome component of AT2 anomaly). A second drill continues to test anomaly AT12, while the third drill has been moved to continue the depth and strike extension potential south of the Eagle One Magmatic Massive Sulphide Deposit. Recall that the AT2 airborne anomaly consists of copper-nickel sulphide mineralization in a Shear Hosted Sulphide ("SHS") environment referred to as "Eagle Two", as well as layered chromite mineralization in a peridotite intrusive geological environment, referred to as "Blackbird One" so as to distinguish this site from the Eagle Two deposit. Information on the Blackbird One chrome occurrence as well as other news related to the chrome potential of the area as encountered at Blackbird Two will be the subject of a separate release to be issued soon.

A fourth drill has recently been mobilized into the Ring of Fire area and is currently working on the Seafield Option property located approximately 65 kilometres to the north of the Eagle One Deposit. Seafield Resources Ltd. is earning in on this property from Noront. Noront is operator during the initial earn-in period. Other option properties are being readied for initial diamond drill programs to test airborne identified geophysical anomalies that have been upgraded to drill targets as a result of ground geophysical surveys and geological review, all within the geophysically interpreted northerly extension of the Ring of Fire Intrusive ("ROF").

The current drilling program at Eagle One South is designed to test for additional resources along strike and to depth towards the south. This program will also include additional infill drilling as needed for resource upgrading purposes. As previously announced (see press release dated July 4, 2008) the Eagle One Deposit currently hosts an indicated resource of 1.83 million tonnes averaging 1.96% nickel, 1.18% copper, 1.12 g/t Pt, 3.91 g/t Pd, as well as an inferred resource of 1.09 million tonnes averaging 2.39% nickel, 1.27% copper, 1.37 g/t Pt and 4.5 g/t Pd.

AT12 Anomaly

The AT12 airborne anomaly is located approximately 9.5 kilometers northeast of the Eagle One Deposit. Drill testing initially focused on the north end of this long, northeast-southwesterly striking strong coincident magnetic and conductive target. Eight drill holes have explored this target (the ninth is underway), however only six were completed due to problems encountered while trying to penetrate the very thick and unpredictable overburden in this particular area. The other two holes were lost in overburden. The attached table provides details of this drilling as well as observed visual mineralization where applicable. Assays for these listed holes are pending, and these results are based on visual observations only. Visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.


Location of Anomaly AT12 Drill Holes and Visually Observed Mineralization ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Easting Northing Mineralization Hole ID UTM (m) UTM (m) Azimuth Dip Length (m) (observed) ---------------------------------------------------------------------------- 95.85 - 99.58 semi-massive NOT-08-2G1 553772 5850735 295 -50 240 po, pn, cpy ---------------------------------------------------------------------------- 99.58 - 122.84 disseminated sulphides -------------------- 122.84 - 129.5 intermittent diss - semi mass po, pn, cpy -------------------- 139.5 - 169.0 minor sulphides ---------------------------------------------------------------------------- 147.0 - 213.0 disseminated NOT-08-2G2 553772 5850735 295 -70 306 sulphides ---------------------------------------------------------------------------- 213.0 - 242.2 intermittent diss - semi mass po, pn, cpy ---------------------------------------------------------------------------- no significant NOT-08-2G3 553829 5850592 295 -50 324 mineralization ---------------------------------------------------------------------------- no significant NOT-08-2G4 553829 5850592 295 -70 402 mineralization ---------------------------------------------------------------------------- NOT-08-2G5 553930 5850782 295 -65 37.5 no core recovered ---------------------------------------------------------------------------- NOT-08-2G5A/B 553930 5850782 295 -65 36 no core recovered ---------------------------------------------------------------------------- NOT-08-2G5C 553930 5850782 295 -65 44 no core recovered ---------------------------------------------------------------------------- NOT-08-2G5D 553930 5850782 295 -65 33 no core recovered ---------------------------------------------------------------------------- NOT-08-2G6 553632 5850913 115 -50 39 no core recovered ---------------------------------------------------------------------------- NOT-08-2G6A 553632 5850913 115 -50 27 no core recovered ---------------------------------------------------------------------------- no significant NOT-08-2G7 553772 5850735 335 -50 297 mineralization ---------------------------------------------------------------------------- no significant NOT-08-2G8 553978 5850640 295 -50 441 mineralization ---------------------------------------------------------------------------- NOT-08-2G9 5530990 5850520 295 -45 current ---------------------------------------------------------------------------- ----------------------------------------------------------------------------</PRE><TABLE><TBODY><TR><TD></TD></TR></TBODY></TABLE>The widths contained in the above table are not true widths as insufficient drilling has been completed on this occurrence to determine true widths.

Recently received assays from AT12

Assay results have recently been received for hole NOT-08-1G1. Three separate zones of nickel mineralization were encountered, along with minor copper as well as palladium. The following table presents the results received from anomaly AT12 thus far. This mineralization is hosted by an altered peridotite. One short section of massive sulfide (0.16 meters) starting at 125.4 metre core length averaged 6.37% Ni, 3.53% Cu, 0.12g/t Pt and 13.3 g/t Pd. Drilling continues at this anomaly.


---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Hole ID From To Interval Nickel Copper Palladium ---------------------------------------------------------------------------- (m) (m) (m) % % g/t ---------------------------------------------------------------- ---------------------------------------------------------------------------- NOT-08-2G1 97.0 105.0 8.0 0.66 0.05 na ---------------------------------------------------------------- 121.5 127.5 6.0 0.89 0.35 1.36 ---------------------------------------------------------------- 136.5 139.5 3.0 0.81 0.34 0.7 ---------------------------------------------------------------------------- ----------------------------------------------------------------------------</PRE><TABLE><TBODY><TR><TD></TD></TR></TBODY></TABLE>EAGLE TWO Ni-Cu OCCURRENCE

Complete assays from the only two holes at Eagle Two that have been received since the last press release (July 17, 2008) are described below. The current drilling has continued to extend the mineralization containing visible copper-nickel sulphides to a vertical depth of 400 meters. The Eagle Two occurrence occupies a position conformable with and near the stratigraphic bottom of a wide Peridotite Sill which in turn unconformably overlies older Granodiorite basement rock. Assays are pending for the remaining holes. The interpretation of the new holes at Eagle Two confirms that the SHS zone continues to dip flatly at 50 to 60 degrees to the west and strikes north-south within the Peridotite sill or the "ROF".


Summary of Recent Drilling (since last press release, assays pending) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Azi- muth dip Northing Easting Northing Easting Len- Observed Hole ID Local Local UTM UTM deg- deg- gth Mineralization (m) (m) (m) (m) rees rees (m) ---------------------------------------------------------------------------- NOT-08 No significant -1G55 1025 3175 5842212 545900 0 -90 648 mineralization ---------------------------------------------------------------------------- NOT-08 156.4 - 161.9 -1G56 1115 3250 5842325 545900 0 -90 867 minor py ---------------------------------------------------------------------------- 163.4 - 170.9 minor py --------------- 174.3 - 178.2 minor py ---------------------------------------------------------------------------- NOT-08 189.8 - 202.2 -1G58 750 3245 5842060 546150 0 -90 546 diss po, cp, pn ---------------------------------------------------------------------------- 248.5 - 250.7 short mass chrome beds ---------------------------------------------------------------------------- 296.7 - 299.4 short mass chrome beds ---------------------------------------------------------------------------- 330.5 - 371.2 several narrow mass chrome beds ---------------------------------------------------------------------------- 370.0 - 373.8 NOT-08 veinlets cp, -1G60 2100 6200 5842100 546200 0 -90 454.5 po, tr.pn. ---------------------------------------------------------------------------- 379.0 - 382.3 veinlets cp, po, pn, semi-mass. ---------------------------------------------------------------------------- 382.3 - 387.3 diss po, cp, pn ---------------------------------------------------------------------------- NOT-08 441.8 - 442.2 -1G62 2137.5 6250 5842137.5 546250 0 -90 804.6 diss po, cp ---------------------------------------------------------------------------- 705.0 - 713.0 diss - semi mass chrome --------------- 713.8 - 714.3 diss po, cp, pn --------------- 722.9 - 726.0 diss - semi mass chrome --------------- 734.0 - 736.0 mass - semi mass chrome ---------------------------------------------------------------------------- ----------------------------------------------------------------------------</PRE><TABLE><TBODY><TR><TD></TD></TR></TBODY></TABLE>Due to the limited number of drill hole and assay results, true widths are not yet determined for the Eagle Two Deposit. Visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part.

Recently received Significant Assay Results (Eagle Two)

Assay results have recently been received for two holes that were drilled to test for nickel - copper mineralization at the Eagle Two shear hosted sulphide deposit. These holes continue to confirm the depth and size potential of this deposit. (Please note that the chrome potential for the Eagle Two Deposit is not presented here; it will be the subject of a separate release pertaining to Blackbird One.)


--------------------------------------------------------------------------- --------------------------------------------------------------------------- Hole ID From To Interval Nickel Copper Palladium (m) (m) (m) (%) (%) g/t --------------------------------------------------------------------------- NOT-08-1G32 289.5 301.5 12.0 1.17 0.38 0.11 --------------------------------------------------------------------------- including 297.0 300.6 3.6 2.86 0.56 0.15 --------------------------------------------------------------------------- --------------------------------------------------------------------------- NOT-08-1G35 382.0 387.0 5.0 1.52 0.23 0.18 --------------------------------------------------------------------------- --------------------------------------------------------------------------- NOT-08-1G36 hole abandoned --------------------------------------------------------------------------- --------------------------------------------------------------------------- NOT-08-1G37 hole abandoned --------------------------------------------------------------------------- ---------------------------------------------------------------------------</PRE><TABLE><TBODY><TR><TD></TD></TR></TBODY></TABLE>Drilling has concluded at present at Anomaly AT2. One drill continues to test the nearby Blackbird Two chrome occurrence, while the other drill that was assigned to this deposit has been moved to the Eagle One south extension. Once all assays are in, an initial resource estimate for Eagle Two will be initiated.

Other Anomaly Drilling Programs

Ground geophysical surveying is well underway at the Double Eagle project Grid 2 area, as well as other areas. Linecutting, followed by ground geophysics has commenced for the numerous options to joint venture properties that are operated by Noront around the Ring of Fire. Since January 2008, Noront staked many additional claims and continues to acquire additional land by staking and joint venture. All areas are being surveyed by Geotech Ltd's new deep penetrating airborne Time-Domain Electromagnetic ("VTEM") system over the next few months. This new helicopter mounted system has demonstrable and acceptable conductance discrimination for high conductance targets by using a low frequency (30 Hz), long on-pulse and derived B-Field. Noront has amassed over 48,600 hectares of prospective ground and is in joint venture with several other resource companies on approximately 68,000 hectares. Collectively, Noront holds interest in approximately 116,800 hectares or 1,166 square kilometers of staked land within what management believes is the most favorable exploration area. A third drill has commenced on the Double Eagle Project to test airborne anomalies, all of which have undergone further ground geophysical surveying including AT-5, AT-6, AT-7 (all on Grid One) and AT12 (first anomaly on Grid 2) all east and north of the Eagle One Deposit. Previous drilling to initially test some of these anomalies has been previously reported (July 17, 2008).

AT3 Anomaly

As reported earlier (May 27, 2008) a total of 2,621 meters were drilled in eight holes testing airborne anomaly AT3 located 4 kilometers to the southwest of Eagle One, or two kilometers west of Eagle Two. Whereas at the time of the last press release dated July 17, 2008 results from holes NOT-08-1G26 were still pending, these results have recently been received. Only anomalous (0.15 to 0.24 %) nickel values were received from this hole. No further work is currently planned at this anomaly.

AT4 Anomaly

As reported May 27, 2008, a total of 951 meters in three holes were completed to test airborne anomaly AT4 and its southwestern extension, located 5.5 kilometers southwest of Eagle One. Two of these holes encountered volcanogenic massive sulphide ("VMS") style mineralization in intermediate to felsic volcanic assemblages and the third hole was lost. The holes returned several large widths of barren sulphide mineralization in favorable volcanic rocks uncomformably overlying the ROF intrusive. Assays received from the two holes returned interesting gold values, highlighted by NOT -1G34 that encountered 11.1 g/t gold over 1.0 meters. Minor amounts of copper were also encountered by both holes. Additional review of the existing geophysical data will be undertaken on this anomaly.


Recently received assay results (AT4) --------------------------------------------------------------------------- --------------------------------------------------------------------------- Hole ID From To Interval Copper Gold Silver --------------------------------------------------------------------------- (m) (m) (m) (%) g/t g/t --------------------------------------------------------------------------- --------------------------------------------------------------------------- NOT-08-1G30 394.7 395.4 0.7 0.14 9.0 3.9 --------------------------------------------------------------------------- --------------------------------------------------------------------------- NOT-08-1G33 abandoned --------------------------------------------------------------------------- --------------------------------------------------------------------------- NOT-08-1G34 82.5 83.5 1.0 0.24 11.1 1.4 --------------------------------------------------------------------------- ---------------------------------------------------------------------------</PRE><TABLE><TBODY><TR><TD></TD></TR></TBODY></TABLE>[/FONT]
INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL

A thorough quality control program is in effect for the Double Eagle project which, has included grouping samples into batches of 35 into each of which were added 2 certified reference material standards, 2 field blanks comprised of sterile drill core, and a field duplicate. Coarse reject and pulp duplicates also form part of each batch. It can be said with confidence that all assays as reported in this Press Release have passed the strict quality control guidelines as set out by Independent Qualified Person ("IQP") Ms. Tracy Armstrong P.Geo. of P&E Mining Consultants Inc.

All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ontario. The samples submitted to Actlabs were analyzed using four acid digestion followed by ICP multi-element analysis. The Cu and Ni samples that received values greater than the maximum limit using the multi-element analysis underwent further analysis using ICP-OES. For precious metals the assay methodology was Fire Assay/ICP. For more information on assay methodology please visit the Activation Laboratories Ltd. Website at http://www.actlabs.int.com.

Drilling results in this press release have been reviewed in the field and approved for dissemination by Noront's senior management including John Harvey, P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall P.Geo., Noront's Chief Geologist, both being Qualified Persons under Canadian Securities guidelines. Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,493,883 shares issued to date.

Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updated in real time.

For Further information please visit Noront's website at: http://www.norontresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS:

R. Nemis, President and Chief Executive Officer

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
[FONT=Verdana, Arial, Helvetica, sans-serif]CONTACT INFORMATION:[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Noront Resources Ltd.
Neil Novak, P.Geo.
(416) 864-1456
Fax: (416)367-5444
Email: info@norontresources.com
Website: www.norontresources.com[/FONT]

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Tuesday morning thoughts</TD><TD align=right>

</TD></TR></TBODY></TABLE>
Good morning. Well it is a dreary day for the major Asian indices, as China and Japan play catch up, from having exchange holidays on Monday. Both indices are down slightly under 5% for the day. The fear gripping the Asian indices is that financial troubles at American International Group(AIG) will spread globally, so soon after Lehman Brothers filed for bankruptcy. A default by AIG could have big ramifications in the global financial system, because of the firm's diverse credit and debt derivative holdings. Asian investors are bailing out of risky investments such as commodity related funds, in doing so they have knocked the price of oil to the $92 a barrel level and are putting selling pressure on metal prices. In Europe the major indices are currently down sharply, with the FTSE in England down almost 3%. Once again, as in Asia, the fear is the status of AIG. Furthering AIG's woes, is the debt downgrade they received. Investors are like deer in the headlights, wondering what and who's next. Even gold which has been a traditional safe haven in times of financial stress, is under selling pressure, as investors are treating it as just another risky commodity investment. On the economic calendar for today, we have the Core CPI and CPI numbers at 8:30 am, followed by the Net Foreign Purchases numbers at 9 am. At 2:15 this afternoon we receive the FOMC Policy Statement and this one has the potential to be a huge market mover. Yesterday the markets had priced in a 90% chance of a 25 basis point rate cut, with some analysts speculating the Fed could even be more aggressive, and do a 50 basis point cut. The early futures numbers, are predicting another down day, for the US indices, however the Nasdaq is bucking the trend and showing some early positive numbers. Weaker commodity prices does not bode well for the Canadian indices again today. What the Canadian indices need is an aggressive rate cut by the US Fed today, to put some selling pressure on the $US and give commodity prices a badly needed boost.

Back in McFaulds Lake, as expected, NOT's share price was under selling pressure all day, because of the general market bloodbath. No sector was spared yesterday, as investors dumped everything and anything in a panic mode. NOT's share price was down just under 10% for the day. NOT did test and held support at $1.80 yesterday. For today, NOT has support at $1.70 and the resistance is at the $2.04 level. For NOT to get its share price turned around, it would need to break atop it's 13(MA) which is at $2.35, very doubtful for today, without good news.

Yesterday, late in the trading session, NOT released news of assays and visuals from several fronts in its recent drilling programs. The timing of releasing news so late in the day, was interesting to say the least, on such a terrible down day. After reading through the news release, my initial reaction was, for the most part these results were very blah and disappointing. The AT-12 anomoly results were very disappointing to me, especially after all the hype this anomoly has received. With short intervals of mineralization and nickel content just under the 1% level, its hard to get too excited from this anomoly, so far. However, NOT's decision to keep drilling on this anomoly is encouraging, perhaps the best is yet to come.

The Eagle Two assays results were very encouraging. The grades may not be as high as the Eagle One anomoly, but they are definitely nothing to sneeze at either. The drilling program is now complete at Eagle Two, with numerous assays still pending. Once all assays are in, an initial resource estimate for Eagle Two will be initiated. The mineable tonnage at Eagle Two is expected to be much larger than Eagle One, so this one should add a fair bit to NOT's market cap once the 43-101 is completed. The 43-101 on Eagle Two should put the argument that NOT doesn't have enough tonnage to support a nickel mine, to bed, once and for all. JMHO

Assay results from the AT4 anomoly drilling program, created an interesting surprise for NOT. They only drilled 3 holes total on this anomoly and one was abandoned, but the surprise was the gold values discovered from the two holes that did send core samples to the lab. Both holes discovered short intervals of gold, one returning 9 grams per ton and the other one 11 g/t. Obviously this is the anomoly that created the visual gold rumours, we have heard so much about. NOT plans to review the geophysical data and if favourable, we should be hearing more about this anomoly in the near future.

Also from yesterdays nr, I found it interesting that NOT has went back and resumed drilling at the Eagle One anomoly. NOT has previously stated this anomoly was open along stike to the south, and at depth. This drilling program will include some infill drilling, as needed for resource upgrading purposes. It will certainly be nice to receive some of those high grade assay results again, that this anomoly is now famous for. Adding additional tonnage to this high grade discovery, should add to NOT's market cap if it proves to be successful.

Saving the best for last from yesterdays news release, was the announcement by NOT of another nr shortly containing information about the Blackbird One and Two chrome occurrence. More and more investors are realizing the potential of these chrome strikes, that are slowly being announced from the numerous drill programs, by some of these companies in the ROF. At one time the mere mention of chrome was met with scorn by investors. Now investors are slowly getting educated that the chrome discoveries in McFaulds Lake are a world class discovery. Many of these huge intercepts and high grade chrome discoveries, are much better than the ones that existing mines, around the world have. The mindsets of investors in NOT should be tuned in by now, or very shortly. The chrome is now the meat in McFaulds Lake and the nickel is the icing on the cake. JMHO

FNC's share price continued it's downward spiral yesterday, losing just under 11% for the day. Several investors that took the time to phone Peter Smith yesterday, are reporting that FNC has now finished drilling hole #4 and the drilling program is being extended. Obviously Smith likes what he sees so far, even in his last nr update, he had stated that 4 holes was it and the drill crew would be moving on. Now the story from Smith is that core samples have been sent to the lab, marked with rush instructions. Also Smith claims he is working on a PP, to further extend this drill program. Something smells a little fishy with this entire scenario, but no one ever said investing in a Peter Smith company would be easy. Broken promises and now possible deceitful tactics seem to be the norm. "IF" this PP ends up being a bought deal financing with Smith and Sheridan Sr taking up the bulk of the PP more than a few eyebrows will be raised. In fact an outright shareholder revolt is probable. Stay tuned to the "Peter Smith Bends Over Investors" soap opera. Hopefully this is not the case, and everything ends up being above board, straight forward and honest. This play is far from being dead !!!

Yesterday we also got a visual update from FWR in their 100% owned anomoly drilling. FWR reported 100 metres of chrome mineralization in their 1st hole drilled. Simply amazing is stating the obvious from this visual drill hole result. It is just too bad FWR had to release this awesome discovery, on one of the worst days on record for the Canadian indices. Six months ago if FWR had reported this kind of result, the share price most likely would have done the 10 bagger in a day routine. JMHO Once again, this visual report from the very 1st hole drilled, was nothing less than stellar, amazing, fantastic, superb !!! It should bode well for the drilling program going forward. You have to believe FWR's share price will respond, if we see more of these kinds of results.

The rest of the McFaulds Lake stocks are in wait and see mode. Current market conditions are just killing these stocks share prices. However the world didn't end overnight and this market crisis shall come to pass, just like they always have. JMHO

Best of luck to all McFaulds Lake investors.



Al

 

[Lovetowin]

Hey Lor, how are you doing? Can you believe what is happening with NOSOF? We have been beat down as much as anyone can! I have still all of my shares and I have also bought about 5,000 more. Don't know if I was smart or what. It is so very hard to watch all of my money just go away and I just have to hope now that my average is 4.25 and we can maybe get back to that. I don't feel that I got snickered into buying this stock, no one twisted my arm but, I have to hope that I can maybe get back to even and then think about wheather I want to stay for the long haul or just move on. I don't have a problem waiting a couple of years for this stock to find its place but, I would really like to maybe get to like $20 and then get out for sure. How do you feel about the stock now and don't give me the RA Ra like they have at Aracogma fourm, please give me something from your gut and be honest. Take care and go NOSOF.

 

[lor]

Hi Lovetowin, What's going on with this site? I couldn't get on for days.
As for NOSOF, I haven't sold a share either. Wish I had the guts to trade in and out of this stock, was affraid of being on the wrong side of good news. It is a stock to buy on rumor and sell on news, but I hope that well be changing. With the amount of chrome they are finding through out the ROF a major should come knocking soon. I bought this stock with a 2 year time frame in mind of owning it, Nov. will be 1 year. So, Richard has 1 year to get the drills telling what is in the ground and this SP higher. The one thing that has me disturbed with NOSOF management is the lack of news & assay results taking months. They said when the new lab opened there would be a 2 week turn around on assays results, and that isn't happening.

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Monday morning thoughts from TC</TD><TD align=right>

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Good morning. The major Asian indices finally came back to reality after Fridays explosive rally. Today We have the Hang Seng in China up 1.58% and the Nikkei in Japan up 1.42%. Asian investors are now waiting for more details on the proposed $700 billion bank bailout by US authorities. In early trading in Europe the major indices are flat as investors come to grips with the realization what is a good deal for the banks in the US, will arguably be a bad one for taxpayers. So just how sustainable the rally in equity markets will be as a result, remains to be seen, as this stands to heap further economic woes on the US market, especially consumers. What is amazing, is how all the major world indices, have enacted the US plan, to ban short selling of financial stocks. This in itself should tell investors the US bailout plan is a done deal. This new plan is being pushed down the throats of American taxpayers rather they like it or not. There is nothing on the economic calendar for today, so all eyes will be on news of the US bailout plan as it unfolds today. The early futures are pointing to a lower open for the US indices. At the time of typing this mornings thoughts, commodity prices are up sharply, so it should/could be a good day for the Canadian indices.

I don't pretend to know all the implications for this US bailout plan, but every article I have read and I have read a few of them, is very negative on this plan. Many are calling it an end to the equity markets as a free market. My thoughts are it was always rigged anyways, with the PPT and the way the Central Banks have the price of gold rigged. Right down to the way the big financial institutions on Wall St, play retail investors as suckers, with the use of the media, to sway investor sentiment. Since everyone is now into the prediction game as to how this new bailout plan will unfold down the road, I thought I would throw my hat into the ring and take a stab as to how I think this entire fiasco will play out.

First of all let me say, they did not have a lot of alternatives, something had to be down before this entire credit mess blew up in our faces and we all ended up in soup lines, in a state of depression instead of recession. I think once this new plan is passed the equity markets will stabilize. The housing bubble will be behind us and for those that can afford it, now is a good time to buy a house, the bottom is most likely now in. Of course the old days of zero money down is long past, now reality sets in and those wishing to buy a house will need a sizeable downpayment to qualify for a mortgage. This is the way it always should of been and this whole mess would of been avoided in the first place. I think this will put a floor in the US equity markets, the bottom has been been reached and the bear can go back into hibernation and the bull comes charging back. The US equity markets, such as the DOW will rally to new highs. The reason being the US Fed has now pumped a tonne of money into the US system and Americans will be awash in cash, much like they were before the Year 2000 fiasco. With all this new cash and interest rates at historic lows, this new money will go right back into the stock market. At first all this new money won't be a problem, but it will cause some inflationary pressure and interest rates down the road will go up. However with such low rates at the present time, it will be a slow process, as the US Fed now has a lot of room for increases, to slow the inflationary pressures. The key will be, can they keep the price of oil low enough, to slow down the inflationary pressures. Many are saying how can this bailout not cause the $US to go down, well the reason I see for the $US to remain strong, is yes, now the American economy may have a fix in place, to avoid a deep recession, but the European economies are in a mess. Unlike the US, they have sat on their hands during this entire credit market meltdown and done nothing to fix their problems. The last one to the dinner table often goes to bed hungry. The $US will remain strong mainly because the alternative, the $Euro will grow much weaker. One of the key reasons, why the US side should be able to slow down the price of oil, will be because of weak demand in Europe. Once again, this is just my take on the situation, and obviously has no basis in fact, it is just my guesstimate at best and could be a totally wrong read.

There, I have thrown a positive possibility into the ring of predictions, instead of all this doom and gloom I have been reading about. My belief is if you only look for negatives in every scenario, you are sealing your fate before you give anything a chance. I know 99% won't agree with my positive scenario, but it is a hell of a lot better better than looking at nothing but negatives, even if it doesn't play out. There enough of playing Nostradamus, back to the reason we are here, McFaulds Lake.

Back in McFaulds Lake, NOT finally had a positive day on Friday after 4 straight down days. On the chart, NOT has support at $1.41 and $1.79 is it's first resistance point. On Friday the chart candlesticks formed a Harami Cross Pattern, which is often a sign of a trend change. If NOT can open at or above it's Friday high of $1.69, or just open at or above it's close at $1.61 and then start doing the slow creep higher, on decent volume, we would get confirmation of the trend change. Hopefully we get that early morning bounce and get this stocks share price righted once and for all, as the chart indicators are showing NOT to be in oversold territory. The brutal sell off in the junior resource stocks the last couple of weeks, has unfortunately meant stocks with strong fundamentals, like NOT, have been sold off hard, right along with their weak sisters. To see the #1 rated mining stock on the TSX-v trading at such depressed share prices, shows you the sad state of the TSX-v exchange currently. I have been reading where some investors are blaming Nemis, or market manipulation, or short sellers, or daytraders, etc, etc, for NOT's current ridiculously low share price. To these types I say open up your eyes and take a look around you, this is nothing more than a very sick market. What is it going to take, to get the junior mining stocks turned around, is a matter of debate, but personally, I believe the TSX-v is very near, or already has bottomed out. Stocks with strong fundamentals like NOT will be the first to get their share prices righted. Also what could give the entire sector a boost, is if we start seeing takeovers from some majors. The stocks that have proven mineable resource discoveries, must be looking very attractive, to some of these cash rich majors, at current market caps. I have read a few resource newsletter writers and many are discounting the value of this chrome discovery in McFaulds. Since there is nothing to compare it to, in North America, they seem very fearful, of putting a valuation on it. Perhaps I am missing something, but if you have X amount of tonnes, of any ore that has value in the billions of dollar range, I really don't understand their concerns. It appears in North America, it is all about nickel or gold, anything else and the newsletter writers don't appear to be able to get their mindsets into it. My belief is that is about to change shortly and we are going to see a major, take a run at NOT. I'm not sure if it will be in whole or in part, but the writing is on the wall. NOT just has too many dollars worth of proven ore, for the share price to remain at these mind boggling low levels. JMHO

FWR's recent discovery of 100M section of chrome has certainly left investors scratching their heads. Since the announcement of this discovery on their very first drill hole, the share price has gone down. This obviously should show us a very important fact, North American investors could careless about chrome. It's either nickel, copper or gold discovery announcements, or the market yawns and gives the share price a spanking. Hard to figure, but such is the way the market is currently. The good thing for FWR shareholders is the announcement by Watson, that the next phase of the drilling program will be looking for nickel. Many are predicting FWR has a very good shot of indeed finding some nickel on their next few drill holes. In fact the VTEM surveys are showing this 100% FWR owned anomoly to having the best prospect in all of McFaulds Lake. If this drill program fails to come up with some decent intercepts of nickel, investors should be fearful of every finding another hit of mineralized massive sulphides, like the Eagle One hit came up with. What McFaulds Lake badly needs right now is a halt by FWR, announcing some visuals with massive sulphides in it. This would arouse some investor speculation and all the stocks in McFaulds Lake would benefit. JMHO

FNC's share price has finally stabilized and it appears the low $.40 range is where the price has settled at, for the time being. On Friday FNC announced they will be doing a flow-through financing at $.50 for 4 million shares, each share will have an attached 1/2 share warrant, excercisable at $.75 for a period of 2 years after the financing closes. This money raised, will be used solely for the purpose, of further drilling on their McFaulds Lake property. FNC also announced a 500,000 share non-flow-through offering, under the same terms as above. This money will used to replenish FNC's treasury. In total this brings up a possibility of 6.75 million additional shares into FNC's o/s share count. So basically we will have an extra 25% more shares if everything is excercised. Now we hear a rumour that Xstrata has been in contact with Peter Smith. I'm not sure if this rumour was floated out there to get some interest in FNC's PP, or perhaps, if true, Xstrata wants to get a piece of FNC tied up, before making a play, on perhaps NOT. My bet is if we see Xstrata take down this flow-through PP, we would see a bid, for all, or part, of NOT, from Xstrata, in the not too distant future. Definitely this is worth keeping your eye on, as the story unfolds. I would think if Xstrada's name is associated with FNC's PP, NOT's share price will get an immediate pop because of it. A very interesting situation indeed !!!

After listening to TME's executive address by Bruce Durham, I think it is time to add this stock, to our McFaulds Lake watchlist. I really haven't followed this stock that close. But, with their huge land position in McFaulds Lake and their announced drill programs, that we should be hearing lots more about, over the next couple of months, it is time I started doing some DD on this stock. If anyone has further DD they would like to share with this board, please take the time, to give us your update. For those that like to speculate, taking a position in TME right now, while it is near it's 52 week low, might be a prudent play. Thanks cappy for bring this stock to our attention.

After last weeks mini rally to end the week, hopefully we can keep the positive momentum going and get these McFaulds Lake stocks moving again. After the recent bloodbath in the junior mining sector, many of these stocks are at, or very near to their 52 week lows. If ever there was a time for bottom fishing, it appears now is it. JMHO

Best of luck to all McFaulds Lake investors.




Al

 

[PercocetThreat]

Good god lor, the stock is a loser.

Just move on!!

 

[lor]

PercocetThreat, Thanks for your suggestion, but I will be staying with NOSOF for at least one more year. Until there is prove NOSOF will not be a World Class Mine, I will remain long. As I've said before if I should end up in the neg. side of this stock, it wasn't because I didn't do my DD. What I find in doing my DD on NOSOF I like and do believe my patience will be rewarded. I could be wrong but only time will tell!

 

[lor]

NEWS - Noront Continues to Outline World Class Chromite Mineralization at Blackbird One and Two

Posted by: AGORACOM on September 23, 2008 08:46AM

TORONTO, ONTARIO - (Sept. 23, 2008) - Noront Resources Ltd. ("Noront or the Company") (TSX VENTURE:NOT) is pleased to present an update on its operations as well as additional chrome results on its chromium exploration activities in the McFaulds Lake area of northern Ontario in the James Bay Lowlands.

EXPLORATION HIGHLIGHTS

1) Assay results received from Hole NOT-08-1G31 (see Table 1) from Blackbird One returned 75 meters from 337.5 meters onwards, averaging 38.2% Cr2O3 containing 26.1% Chrome (Cr) and 15.2% Iron (Fe) including 12 meters from 373.5 meters onwards, averaging 58.4% Cr2O3 containing 39.9% Cr and 15.5% Fe (Cr:Fe ratio of 2.6)

2) Drilling at Blackbird Two located 1,000 meters to the east of Blackbird One continues to encounter visible chromite mineralization in several holes testing the 900 metre long gravity anomaly.

One drill is currently drilling at the Blackbird Two chrome occurrence, and will be moving to test the area between Blackbird One and Blackbird Two in systematic step outs of 100 meters to explore the area to determine continuity of the two zones. As previously announced (refer to press release dated July 29, 2008) Blackbird Two was discovered while testing a large gravity anomaly located approximately 800 meters to the east of Blackbird One and 1 kilometre south of the Eagle One magmatic massive sulphide (MMS) deposit.

The recent success of Noront's drilling at Blackbird One and Two, has been a very positive development in the Company's exploration for base and industrial minerals in the Ring of Fire. The grades of Cr2O3 that are typically being encountered by our drilling at Blackbird One, along with a favourable chromium to iron ratio, as well as the large crystals of chromite in a talc matrix observed during microscopic examination of core samples, will potentially place this discovery amongst the best chrome deposits in the world.

While it is still too early to comment on the metallurgical characteristics of the rock and anticipated chrome recoveries, the grades being encountered in holes reported to date, are consistently greater than 40% Cr2O3, have a Cr:Fe ratio that approximates 2:1. This conceptually, would allow for the rock to be fed directly into smelters without any further processing. Concentrating the rock on site could be by gravity separation, at relatively low cash costs after the initial capital investment for the mill facilities. This would allow for substantial value added to the discovery. At current world contract market prices for chrome, of $2.05 (USD) per pound (as per the European Q3 contract price), the grade of 40% Cr2O3 would command a price of around $600 per tonne delivered to a deep water port. Simple upgrading of the rock by use of an attrition/gravity mill that removes the talc matrix and liberates the chromite would enhance the value of the rock substantially.

Early drilling at Blackbird Two identified three parallel bands of massive chromitite that appear to be of similar size and visual nature to the Blackbird One discovery. Additional discoveries by the Spider/Freewest/KWG joint venture of 48 metres of massive chromite located only a few kilometres northeast of Blackbird Two, along with Freewest's recent discovery of 100 metres of chromite that included 60 meters of massive chromite, continue to lead the Company to believe that there is a potential for an extensive massive chromite belt in the current area of drilling. These four chromite occurrences discovered in the McFaulds Lake area to date are situated along a strike length of 10 kilometers within the Ring of Fire (ROF) as previously reported by Noront, Freewest and the Spider/KWG/Freewest JV in their recent press releases. This concentration of occurrences lends support to the comparison with the Kemi Mine in Finland, where multiple chromite lenses occur in a similar geological setting along a 15 kilometre belt as presented in Noront's recently filed NI-43-101 report on the project area. (to see the report, please refer to Noront website www.norontresources.com)

Noront and other ROF Companies who continue to drill in the area have encountered and are now delineating a potential new Chromite belt that is still open at both ends along strike, where the ROF continues on ground wholly owned by Noront. The Company is committed to further identifying the chromite footprint of Blackbird Two and testing its other holdings along the ROF for chromite and related copper-nickel massive sulphide mineralization.

BLACKBIRD ONE CHROME OCCURRENCE

The Layered Chromite ("LC") zone at Blackbird One is best described as a complex of varying thicknesses of massive chromite bearing layers within the Peridotite Sill. These Chromitite layers dip steeply at approximately 60 degrees to the west paralleling the contact between the Peridotite Sill and the adjacent Granodiorite. The holes containing significant Chromite mineralization reported to date have delineated a chromite body along a strike length of 125 meters, down to a vertical depth of 500 meters over wide core widths with favorable high Cr/Fe ratios. Blackbird One chrome occurrence is open. During the reporting period since last press release an additional three holes were completed designed to test this chrome occurrence, assays for only one hole in its entirety have been received.​

TABLE 1: Recently received significant Assay results (Blackbird One)

----------------------------------------------------------------------------
Hole ID From To Int. Cu Ni Pd Pt Au TPM Cr- Cr Fe
(m) (m) (m) % % (g/t) (g/t) (g/t) (g/t) 2O3% % %
----------------------------------------------------------------------------
NOT-08-
-1G31 337.5 412.5 75 0.02 0.15 0.24 0.18 0.03 0.45 38.2 26.1 15.2
----------------------------------------------------------------------------
Inclu-
ding 373.5 385.5 12.0 0.004 0.14 0.15 0.15 0.01 0.31 58.4 39.9 15.5
----------------------------------------------------------------------------

</PRE><TABLE><TBODY><TR><TD style="PADDING-RIGHT: 0px; PADDING-LEFT: 0px; FONT-SIZE: 11px; PADDING-BOTTOM: 0px; COLOR: #666666; PADDING-TOP: 0px; FONT-FAMILY: Verdana, Arial, Helvetica, sans-serif; BACKGROUND-COLOR: #ffffff"></TD></TR></TBODY></TABLE>

Due to the limited number of drill hole and assay results, true widths are not yet determined for the chromite (LC) zones at Blackbird One. Assays are pending for the following drill hole recently completed at the Blackbird One occurrence.




TABLE 2: Summary of Recent Drilling (Blackbird One, assays pending)

--------------------------------------------------------------------------
Hole North- East- North- East- Azimuth Dip Len- Observed
Number ing ing ing ing (deg- (deg- gth Mineral-
local local (UTM) (UTM) rees) rees) (m) ization
(m) (m)
--------------------------------------------------------------------------
NOT-08- 750 3245 5842060 546150 0 -90 546 248.5-249.3:
1G58 int cr beds
-----------------------------------------------------------
249.3-250.3:
massive cr
296.7-297.0:
massive cr
297.3-298.3:
massive cr
298.7-299.4 :
intermitt
cr beds
330.5-330.8:
massive cr
--------------------------------------------------------------------------
NOT-08- 5842100 546200 0 -90 454.3 no signif-
1G60 icant cr
mineralization
--------------------------------------------------------------------------
NOT-08- 5842138 546250 0 -90 804.6 705.0 -713.0:
1G62 Diss - int
cr short
massive cr
--------------------------------------------------------------------------
722.9 - 726.0:
diss - int
cr, short
mass cr
-------------
734.0-735.9:
diss - mass
cr, with
shortmass cr
--------------------------------------------------------------------------

</PRE><TABLE><TBODY><TR><TD style="PADDING-RIGHT: 0px; PADDING-LEFT: 0px; FONT-SIZE: 11px; PADDING-BOTTOM: 0px; COLOR: #666666; PADDING-TOP: 0px; FONT-FAMILY: Verdana, Arial, Helvetica, sans-serif; BACKGROUND-COLOR: #ffffff"></TD></TR></TBODY></TABLE>

Notwithstanding the foregoing, visual observations are estimates only and pending assay results may not confirm visual observations in whole or in part. The drill has been moved away from this site for the time being and has moved to continue drilling in the vicinity of Eagle One.

BLACKBIRD TWO CHROME OCCURRENCE

The Blackbird Two chrome occurrence was recently discovered (see press release dated July 30, 2008) while testing a 900 metre long gravity anomaly, centered approximately 1,000 metres to the east of Blackbird One. There have been 11 holes drilled to test this anomaly, 6 of which have intersected massive chromite layers. No assays have been received from this chromite occurrence. The following table provides location and descriptions of each hole drilled to test this anomaly, that has been traced along strike for 340 meters between UTM sections 546555 mE to 546895 mE.




TABLE 3: Summary of Recent Drilling (Blackbird 2 assays pending)

--------------------------------------------------------------------------
Hole North- East- North- East- Azimuth Dip Len- Observed
Number ing ing ing ing (deg- (deg- gth Mineral-
local local (UTM) (UTM) rees) rees) (m) ization
(m) (m)
--------------------------------------------------------------------------
NOT-08- 280 4000 5842238 547024 315 -50 516.8 152.5 - 170.4
1G57 semi-
massive cr
173.3 - 188.5:
diss -
massive cr
362.5 - 417.7
interm.
cr beds
--------------------------------------------------------------------------
NOT-08- 500 4000 5842340 546895 135 -50 390 127.6 - 129.6
1G59 diss -
massive cr
175.6 - 177.1
diss -
massive cr
273.0 - 283.2
massive cr
292.5 - 294.2
massive cr
--------------------------------------------------------------------------
NOT-08- 700 4000 5842540 546730 135 -50 600 280.4 - 297.75
1G61 semi-
massive cr
336.0 - 339.0
interm -
diss cr
345.0 - 357.6
diss -
massive cr
369.0 - 370.7
diss -
massive cr
375.0 - 417.2
diss -
mass cr
451.8 - 455.5
diss cr
465.0 - 468.6
diss cr
501.0 - 504.0
interm -
semi mass cr
504.0 - 535.6:
massive cr
--------------------------------------------------------------------------
NOT-08- 426 4200 5842509 547105 155 -50 567 no significant
1G63 cr mineral-
ization
--------------------------------------------------------------------------
NOT-08- 287 4925 5842370 546830 155 -70 636 504.0 - 509.0:
1G64 interm cr
509.0 - 537.2:
massive cr
537.2 - 540.3:
interm cr
--------------------------------------------------------------------------
NOT-08- 287 4925 5842370 546830 155 -50 417 123.3 - 133.6:
1G65 interm cr
189.0 - 234.2:
interm cr
362.6 - 398.5:
interm cr
438.2 - 438.4:
massive cr
--------------------------------------------------------------------------
NOT-08- 340 4430 5842595 547275 155 -60 519 no significant
1G66 cr mineral-
ization
--------------------------------------------------------------------------
NOT-08- 340 4430 5842595 547275 155 -45 no significant
1G67 cr mineral-
ization
--------------------------------------------------------------------------
NOT-08- 390 4330 5842559 547182 155 -50 429 no significant
1G68 cr mineral-
ization
--------------------------------------------------------------------------
NOT-08- 5842330 546740 155 -50 690 156.4 - 159.2:
1G69 massive cr
160.7 - 168.5
massive cr
168.5 - 226.5:
dissem cr
261 - 267:
diss to
massive cr
267 - 280:
diss cr
280 - 378.5:
diss -
massive cr
418 - 422:
semi
massive cr
609.14 - 611.8:
massive cr
--------------------------------------------------------------------------
NOT-08- 5842245 546555 155 -50 und- 140.0 - 145.5:
1G7 erway semi-massive
- mass cr
146.1 - 149.7:
interm cr beds
161.9 - 162.2:
mass - semi
mass cr
220.1 - 221.5:
interm
cr layers
226.5 - 241.5:
interm
cr layers
261.4 - 265.4:
interm
cr layer
337.5 - 342.0:
interm
cr layers
--------------------------------------------------------------------------

</PRE><TABLE><TBODY><TR><TD style="PADDING-RIGHT: 0px; PADDING-LEFT: 0px; FONT-SIZE: 11px; PADDING-BOTTOM: 0px; COLOR: #666666; PADDING-TOP: 0px; FONT-FAMILY: Verdana, Arial, Helvetica, sans-serif; BACKGROUND-COLOR: #ffffff"></TD></TR></TBODY></TABLE>

INDEPENDENT QUALITY CONTROL AND ANALYTICAL PROTOCOL

A thorough quality control program has been in effect for the Double Eagle project which includes grouping samples into batches of 35 into which are added 2 certified reference material standards, 2 field blanks comprised of sterile drill core, and a field duplicate. Coarse reject and pulp duplicates also form part of the QC program. Approximately 10% of the samples are sent to a secondary lab as a monitor on the principal lab. It can be said with confidence that all assays as reported in this Press Release have passed the strict quality control guidelines as set out by Noront's independent Qualified Person ("IQP").

All samples reported upon herein were completed by Activation Labs (Actlabs) of Ancaster, Ontario. The samples submitted to Actlabs were analyzed for multi-elements, including Ni and Cu using a four acid digest followed by ICP analysis. The samples that received base metal values greater than the upper limit for the method underwent further analysis using ICP-OES. For the Au, Pd and Pt, the assay methodology was Fire Assay on a 30 gram aliquot with an ICP finish. Silver was analyzed using a 3-acid digest with an ICP analysis. For final chrome analysis, on the samples where elemental chrome using the ICPOES multi-element analysis methodology provides greater than 1% Cr, the samples are then submitted for additional analysis using INAA that involves irradiating the samples prior to final analysis. This methodology provides analysis in percent for elemental Cr as well as Cr2O3 and elemental Fe. For more information on assay methodology please visit the Activation Laboratories Ltd. Website at http://www.actlabsint.com.

DELAYS IN REPORTING FINAL CHROME ASSAYS

Due to the high number of samples that are being submitted for INAA analysis and the dependency on a research reactor located at MacMaster University in Hamilton Ontario, Canada, there is currently a large backlog of samples awaiting final analysis. Actlabs assures Noront that they are working their way through the backlog as quickly as they can.

Drilling results in this press release have been reviewed in the field and approved for dissemination by Noront's senior management including John Harvey, P.Eng. Chief Operating Officer of Noront and Dr. Jim Mungall P.Geo., Noront's new Chief Geologist, both being Qualified Persons under Canadian Securities guidelines.

Noront is a tier 2 junior resource company on the TSX Venture Exchange, trading symbol NOT, with 129,824,783 shares issued to date.

Investors are invited to visit Noront's IR Hub at http://www.agoracom.com/IR/Noront where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to NOT@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updated in real time.

ON BEHALF OF THE BOARD OF DIRECTORS:

R. Nemis, President and Chief Executive Officer

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.​

For more information, please contact
Noront Resources Ltd.
Neil Novak P.Geo.
(416) 864-1456
Website: www.norontresources.com

 

[lor]

This is my thoughts also and why I'm being patient & willing to ride this NOSOF storm out. "If anyone doesn't think that McFaulds Lake is someday going to be a major mining camp in Canada, they are just not listening to what has been unfolding in this story over the past year."

<TABLE width="100%"><TBODY><TR><TD>Tuesday morning thoughts from TC</TD><TD align=right>

</TD></TR></TBODY></TABLE>
Good morning. Overseas, the Hang Seng in China is down 2.68% and the Nikkei in Japan is closed for a holiday. In China investors are questioning what happens if the US bailout plan falls apart, which it is showing signs of doing. Now that the initial exuberance has wore off, there is skepticism if Washington's $700 billion plan can really install confidence it the US financial system, with these costs exploding the US budget deficit. In Europe all the major indices opened down this morning, because of investor uncertainty as the planned $700 billion rescue package to shore up the embattled U.S. financial system looks set to drag into next week as U.S. lawmakers are haggling over how exactly they can make Wall Street pay for the bailout. There is nothing on the economic calendar for today and the early morning futures numbers are pointing to a lower opening on Wall St. In Canada it all depends on the strength of the $US and commodity prices, for the direction of the TSX.

All eyes will be on Washington today, as the US lawmakers try to figure out alternatives to the Paulson Plan. Later today, Treasury Secretary Paulson faces the Senate Banking Committee and we should hear details on his rescue plan. There is a rising tide of dissent as the plan comes under attack, but with time constraints to get a deal done, by the end of the upcoming weekend, it is doubtful any meaningful alternative plan will be brought forward. The reality of the situation, is the best that US lawmakers can hope for, is to get a few concessions and amendments. Paulson and Bernacke have Washington backed into a corner, with very little wriggle room. Bringing such a plan to Congress a few weeks before an election has many US lawmakers under considerable pressure, as many angry US taxpayers are voicing their concerns. A few close elections could possibly be won or lost on how a lawmaker votes on this one. The mess Wall St created, is hitting Main St, like a category 5 hurricane. It is hard not to feel sorry for our taxpaying friends, south of the border, for the mess George Bush and his team have allowed to get this far out of hand. The citizens of the USA will be paying for these mistakes, for decades down the road. I really could careless which party is in power in the USA, but if this had happened in Canada, the party that allowed this fiasco to happen, would never get another vote from me, to the day I was planted 6 ft under. Interesting times in the USA.

Back in McFaulds Lake, NOT had a good day yesterday as its share price was up 14.9% on above average volume. The support level is at $1.50 with $2.12 being the resistance. However, first NOT would need to break atop it's 13(MA), which is at $1.94, this is the resistance level that NOT touched yesterday at it's high of the day, but failed to break through. If NOT can break through it's 13(MA)and close above $1.94 it would be confirmation that NOT has finally broken out of it's long downtrend. It would be a very bullish sign. The resistance at $2.12 should prove to be a tough level to break through and most likely would require news to do so. The chart indicators have all turned bullish, so it looks good for the short term. The way NOT traded yesterday, my guess is the stock is expecting news. From NOT's last news release on Sept 15th, we were told, "Information on the Blackbird One chrome occurrence as well as other news related to the chrome potential of the area as encountered at Blackbird Two will be the subject of a separate release to be issued soon". So this could possibly be the news the share price is predicting. Getting the story out to investors, of this chrome discovery, is of utmost importance to NOT. So far the market is giving NOT very little, if any, valuation to it's market cap, for this massive chrome discovery. With some world class assay grades reported so far, and the possibility of massive amounts of tonnage, at some point you would think investors will wake up. NOT is saying this chrome discovery looks to be at least 20kms long, with the potential to be much longer. High grades and massive tonnage = "World Class Discovery". When you sit down and do some rough calculations the billions of dollars worth of ore here, is simply mindboggling. JMHO

It is also entirely possible that yesterdays share price was reacting to the rumour mill. It doesn't seem to matter, who you talk to lately about NOT, the talk soon turns to a possible JV from a major, or a takeout in its entirety. Long ago Nemis was quoted as saying this McFaulds Lake project was simply too big for a company of NOT's size, to bring to fruition. There is certainly a good chance, we could be hearing more about this scenario, playing out in the very near future.

Another interesting possibility for a news release, from NOT, is a visual update, from drilling that is currently underway, on the Eagle One deposit. Yes NOT is back drilling on the border where the Eagle One deposit meets the FNC property. NOT told investors at the time when they released the 43-101, that this pod was open to the south and at depth. NOT is trying to add tonnage to its 43-101, from this very rich pod of mineralization. Perhaps getting some assays back with 3% + Nickel and some good PGE percentages will grab investors attention again.

The FNC story continues to have some interesting twists and turns. First we hear rumours that Xstrada has contacted Peter Smith in the midst of a PP, which opens up some interesting possibilities. Now we hear strong rumours, that there was PGE's in the core samples, that FNC sent to the lab, assays are pending. Yesterday rumours were surfacing, that NOT was following a conduit of massive sulphides from their Eagle One drilling program and they found themselves on FNC property. Supposedly they contacted Peter Smith and they are continuing drilling on FNC's side of the imaginary fence line. One has to wonder if all these rumours have anything to do with FNC trying to raise money for its announced PP, currently underway. Investors may want to keep an eye on FNC's share price today, to see if any of these rumours have any validity. Never a dull moment when you are dealing with Peter Smith!!!

Yesterday PRB's share price was up over 53% on fairly good volume. I have heard nothing on why this surprise rally occurred. I have asked around and no one seems to have any answers. A few possibilities, but nothing confirmed here, and these are total outright guesses on my part. Perhaps the rumour that Xstrada has been in contact with FNC gave the stock a little boost? Or, someone in the know, has heard something about assay results from the McFaulds West drill program? Or perhaps Palmer and Nemis have worked out their differences and are planning a JV agreement? Whatever the reason, you may want to keep your eye on this stock today, to see if there is any follow through.

Yesterday we got a surprise news release from BMK, announcing that it had restarted it's drill program, after a 3 week vacation for its drill crew. Supposedly this break, gave them time to catch up on core logging and sampling. They also announced core samples have been sent to the lab for analysis. A tidbit of info that I found interesting from yesterdays news release, was where BMK announced, they are now employing a new computer modeling process. Supposedly this new process allows them to efficiently locate targets at greater depths, with improved accuracy, clarity and at significantly reduced costs. Also I found very interesting, was the part where the Company said, they have seen a dramatic increase in the percentage of successful "hits" of mineralization on the most recent holes drilled, intersecting more sulphides then the past and at greater depths. Through this modeling process, the Company has been able to verify the conductive source of its targets in every instance. BMK's share price was up over 31% on yesterdays news. Not sure if it's just me, but reading yesterdays news and just picking out the few tidbits of info, that I found interesting. I now expect to see a floor under BMK's share price and I expect to see some additional volume. As much as I have been down on BMK's management for their assinine PP, they did months ago, I really hope the share price does well, for those that have been bagholder's of this stock for months now. BMK was actually the poster child, for what happens to an area play stock, in McFaulds Lake, that disappoints the market with assay results. "If", I was a bagholder of this stock from much higher share price levels, I would at this time, buy a few shares, to try and average down my cost per share. JMHO

As we can see, there is obviously a lot happening in McFaulds Lake currently. There are numerous other drilling programs, that I failed to make mention of, in this mornings thoughts. With tens of millions of dollars being spent on these numerous drill programs currently underway, it is only a matter of time, before someone hits another significant discovery. I fully expect to see the words "mineralized massive sulphide" discovery at some point in the very near future. I'm not sure when, or by who, but the odds are just too good for this scenario not to happen. When it does, investors will come scambling back in droves, to the McFaulds Lake story. If anyone doesn't think that McFaulds Lake is someday going to be a major mining camp in Canada, they are just not listening to what has been unfolding in this story over the past year. JMHO

To the many readers of this McFaulds Lake board on TradingChief, I would like to thank you for your dedicated following and kind words from numerous PM's that I have received. Thank you also to the many people who take the time to post on this board. For those that read this board, take the time to recommend some of these posts, if you feel they are worth reading. This encourages people to post. This board could be much more informative than it currently is, but it needs more people to post. If only half the people that take the time to send me PM's, would post some of the rumours and happenings on some of these stocks, this board would increase it's readership 10 fold. Many people don't realize just how many people are in the know, of what is happening in McFaulds Lake, much sooner than we ever see hitting the newswires. It is extremely difficult for me to post some of these happenings with second hand info. Please take the time to keep the readers of this board informed, post your info, if at all possible. I realize some people don't want to jeopordize their sources, that is the reason they don't post. To this group I fully understand. Remember, informed investors are investors who get the jump on the herd. Getting the jump on the herd, is how we as investors make money. Obviously, we all follow and invest in these stocks to make money !!!

Best of luck to all McFaulds Lake investors.




Al

 

[lor]

Post from AB

Critical Mass on Chromite?
Posted by: CMP on September 23, 2008 10:53AM
In response to: Re: Critical Mass on Chromite? by miskealp1
I wouldn't be so quick to say a smelter would not be built on site. With chrome selling at $2.00 per lb and direct shipping ore selling at $600 per tonne fob port, the price difference would make a smelter look attractive. 10 million tonnes of ore at 28% Cr is worth $6 billion unprocessed and $11.2 billion processed. (assuming 100% recovery). Quite the difference. Transportation cost savings would be huge. The press release states that " this would place this discovery as the best in the world". Given power problems in Europe and Africa, when this discovery is developed it will outprice anything in the world and therefore be the leading producer of chrome globally. Given the tonnage and quality, this is within the realm of possibility. Folks, we have a rare commodity here in terms of size and quality.

 

[lor]

This was posted on AB
Our Chromite
Posted by: CMP on September 24, 2008 09:20AM
The known world resourses of chromite is approximately 12 billion tonnes not including ours and that is enough to supply the world for a few centuries. Therefore the key is for our deposit to be able to compete on the world markets and wrestle sales from the few companies that now mine and produce chromite. To use Kemi as a comparison since that mine has been referenced in Noront reports, we look very favorable. They have reserves at 40MT at 24.5%CR2O3 and 1.53:1 CR:FE ratio while our latest press release shows ours at "a lot of tonnes" at 38% CR2O3 and a 2.6 CR:FE ratio. So looking at the ore quality on just those parameters, we are far superior.
Kemi processes the ore in a normal sequence of mining, crushing, wet gravity concentration. The chrome recovery is 80% and the concentrate is 44% CR2O3 which is not much higher than our ore grade. Depending on the metalurgy, we may be able to get much higher percentage concentrates of CR2O3, probably in excess of 60%. This would make us far superior because if selling to a smelter, they don't have as much waste to contend with.
With regard to value, Noront has stated that 40% ore will fetch $600 per tonne. All you have to do is mine it, crush it and transport it to a port. The big question is whether it makes econmic sense to refine the ore by concentrating it and next stage to smelter it. When you concentrate any ore, you lose some in the process. The amount you get to save is called recovery rate. Kemi is 80% so we will use that. A tonne of our raw ore at 40% CR2O3 will get you 705 lb of pureCR2O3 and a lot less waste to have to move around compared to Kemi's 458lb per raw ore tonne. Looks pretty good for us.
Looking at concentrate, at 44% a tonne of Kemi's concentrate is 969lb metal and our concentrate at an estimated 60% has 1322.4lb metal. If they can be achieved, these are the parameters that will make the orebody competitive with the world. The cost of new infrastructure competing with existing infrastructure is quite another issue and one the big players are doing their homework on before jumping on board with us. This is in my opinion the biggest obstacle.

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Wednesday morning thoughts from TC</TD><TD align=right>

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Good morning. The major Asian indices turned the tide from the selling on the North American indices yesterday. The Hang Seng was up .47% and the Nikkei was up .20%. The Asian indices were led higher by the financial sector. The news that Warren Buffett plans to invest $5 billion in Goldman Sachs helped soothe investor fears. In Europe the major indices are all flat waiting for direction from Wall St. However, the Buffett news and a move by central banks to inject money into the financial system has lifted investor sentiment. On the economic calendar for today we have Existing Home Sales numbers at 10 am, followed by Crude Inventories numbers at 10:35am. The early futures are pointing to a positive opening on Wall St. Higher commodity prices should bode well for the Canadian indices to start the day.

Back in McFaulds Lake, we had NOT finally releasing long awaited assays from their chrome deposits. Initial reaction was positive but, the sharp sell off in the TSX-v finally took it's toll and NOT finished down 3% for the day. Once again NOT rallied right up to its 13(MA) but failed to break through this important resistance point. For today NOT is showing support at $1.69 and $1.99 as resistance. Obviously it is going to take a change in investor sentiment in junior resource stocks, before NOT is going to be able to break out of it's current trading range.

The news from NOT yesterday on its chrome deposits, was from all accounts excellent. Slowly but surely, NOT is showing it's chrome discovery is a world class discovery. However, North American investors still fail to give NOT very little valuation towards it's market cap, from this discovery. This is a very frustrating situation for the shareholders of NOT and I am sure management must be left shaking their heads. Personally I think NOT needs to just keep drilling the Blackbird One and Two deposits and come up with a 43-101. Once Nemis can put some kind of dollar valuation to the chrome deposit, institutional investors will take notice. With billions of dollars worth of assets in the ground, all NOT investors can do is bide their time. If and when money returns to the junior resource sector, I expect NOT to be one of the first stocks to bounce and bounce hard to the upside.

I was reading the NOT board on Agoracom and couldn't help but notice the frustration of many of the permabulls. I can understand their frustration, but all these conspiracy theories have left the board almost unreadable and not worth the time. However, there are still a few very good posters on the site, who dig up some excellent DD, that is certainly worth reading. Yesterday 90% of the posts were blaming the shorters for holding back NOT's share price. I wish these posters would take the time to educate themselves on how the market works, then they would realize just how silly these witch hunt posts have become. NOT's share price is where it is at, because of market conditions, plain and simple. It has absolutely nothing to do with those that choose to short NOT. Personally I would not short NOT, because to me, it is far too risky. However, these shorts do offer very important liquidity to the market. Remember every one of these current shorts, will end up being buyers of NOT, at some point in the future. Just imagine if NOT hits another pod of nickel like the Eagle One pod. The news would cause the share price of NOT to explode to the upside, in a panic those current shorts would be scrambling to buy shares as the price goes up. Because of the shorts being forced to cover, NOT's share price would do the opposite as it is doing now, it would overshoot to the upside. This would afford current shareholders the opportunity to sell their shares at inflated prices and buyback once the share price returned to normalcy. These situations are how you can make big money, playing the stock market. Taking advantage of the opportunities the market affords you, to me, is what playing the market is all about. So to the witch hunters and conspiracy advocates, instead of wasting your time worrying about the things you can't control, take the time to educate yourself in how the market really works. In this way you can work on the things you can control. You will be doing yourself a huge favour. JMHO

FNC's share price has stabilized, as investors wait for updates from Peter Smith. The one problem for FNC is the volume has dropped off considerably and the spreads between the bids and asks has widened to levels that makes playing this stock very risky. We should be getting an update from FNC shortly to find out the status of their announced PP. From their last update, I'm not sure if they have found investors to take down the last PP or they are still searching for investors. One thing is for certain, it will be very interesting to find out who has participated in this PP, as it will offer some very important clues to retail investors. If the core samples sent to the lab were marked rush, we could be hearing more about them at any time. I thought the share price of FNC would of done better yesterday on the rumour that NOT was drilling right on their doorstep or possibly on FNC's property. If NOT does find something of interest and gives us an update on a visual discovery, it certainly should give FNC's share price a boost.

ThE rumour that Xstrata had phoned Peter Smith, if true, could be giving us some clues what is happening behind the scenes in McFaulds Lake. It certainly would not surprise me, to see a major, try and get themselves in a JV situation with the likes of PRB and FNC, before taking a closer look at NOT. It just makes good business sense when you step back and look at the big picture. At some point all these smaller companies, will have to get together with NOT, if they want to make themselves saleable to a major. The only other way is for the major to tie up all the loose ends with these small companies, then take a run at the big boy, NOT. With the billions of dollars worth of chrome, nickel and PGE's that NOT has already identified with their drill programs, an offer for a JV partnership or a complete buyout of NOT, shouldn't surprise anyone in the very near future. The current weakness in NOT's share price, certainly makes them an attractive target. I am of the opinion, it would be a shame to see NOT getting bought out so early in the game, but such is life in the mining industry.

FWR's share price continues to disappoint investors. With so much on their plate it is very disappointing to see this company with a market cap under $50 million dollars. It is just part of the sad reality of the current state of junior mining stocks. Anyone with patience that feels the resource market correction is way overdone, should use this time to pick up shares of this little gem on the cheap. Many geologist types are saying don't be surprised to see a big hit from FWR shortly. The VTEM surveys are showing FWR's 100% owned property, that they are currently drilling, to have one of the best chances for success, in all of McFaulds Lake. At present I have no shares in FWR, but the plan is to buy into this stock shortly. It wouldn't surprise me to see a halt called at any time and an announcement of a nickel hit with this stock. JMHO

Many investors are saying why would you want to invest in stocks in the resource sector, especially the junior mining stocks, at this time. However history has shown the best time to buy stocks is when no one else is. Those that use this time to buy up some of these stocks on the cheap, may find yourself being rewarded, with some huge percentage gains, down the road. Opportunity only knocks every so often. It is my belief that currently we are being afforded a tremendous opportunity. However, do your homework and only buy those junior mining stocks that aren't in need of financing any time soon. Your payday may be huge, if you choose the stocks that you are buying wisely. It is all about risk/reward in the stock market. I believe the scales have been tipped on the side of reward, for junior mining stocks, at this time. JMHO

Best of luck to all McFaulds Lake investors.



Al

 

[lor]

Here is a post from AB.

Misfit's Mignight Musing For September 24/25, 2008

Posted by: MISFIT1 on September 25, 2008 03:06AM

Hi All,

I just got back from my trip out west to San Fran. Caught a chest cold the second day I was there and watching the US financial markets crumble did not brighten my mood. That and I spent a couple of hours typing out a musing a week ago only to have the screen refresh and the content disappear.

Before you think all was lost, I did manage to salvage what will go down as being the most significant day of my investing life. And it all started with a road trip.

For those who have been out to San Francisco, there are only so many things to do just a week before, well, you run out of things to do. You have Alcatraz, the Golden Gate bridge, the cable cars, Fisherman’s Wharf, and the Winchester House with the stairways that lead to no-where. That and a Costco sized electronics store called “Fry’s” that is every geek’s paradise. A whole aisle dedicated to IPOD accessories and other’s with every electronic device known to man.

Since I had been out this way three previous times, most of my days where spent watching the markets crumble on CNN. First Lehman Bros. Then the sale of Morgan Stanley. Then AIG. And a line-up of insurance companies out of Hartford waiting to take there place in line. The only thing more annoying than seeing the price of Noront drop during this financial carnage was that annoying (in my opinion at least) Suzie Orman telling people not to invest in anything but money market accounts and to sell if they cannot wait 15 to 20 years for a recovery. She now ranks just below Nancy Grace on my list of top annoying TV personalities.

But I digress.

It was interesting being a Canadian junior mining investor (all in with Noront at the moment) in a country where all is going to hell financially. I am not sure how much coverage this got last week in Canada but it was on every channel in the US night and day. Those two 500 point drops in the Dow really shook San Fran as it is a banking centre out West. I managed to walk by the FED in the financial district where a guy in a smart suit asked me if the government should get involved in bailing out these companies. Being the self seeking Canadian junior mining company investor that I am, I thought “As long as it helps Noront”, then the more the better. The reality is that I know better. While we believe Noront has the real goods to make history in Canadian mining, Canadian mining amounts to a hill of beans at the moment in the US. So I declined to comment.

Fact #1: The Big Money does not care about Noront at the moment. They are trying to keep their jobs and pension funds afloat. They are fighting over the future survival of one of the largest economies in the world.

The situation in the US is serious. The hedge funds have finally started to cannibalize each other during a period of tightened credit conditions and very low liquidity. This should not have been a Domino effect. I call it instead the Vulture effect. With no sick and dying companies left to short out of existence, they instead turned on each other and started to short and dump shares of major financial institutions which in essence caused the demise of each one as a self fulfilling prophecy. Rather than supporting each other, they shorted everything in an effort to grab the last piece of wood supporting the foundation of a house, only hoping to get out before the house tumbles. And the creaking was heard around the world and even got the attention of the senators who have ignored the realities of naked shorting for years. I am not saying that bad mortgages had nothing to do with some of these problems, but the reality is that 150 year old investment houses were shorted and could not raise the capital they needed to stay afloat. A drop in share price of 90% ignited by shorting did not help the situation.

The house is starting to lean folks and it is truly scary. Investment banks that have been around 150 years or more are having their assets scooped up by foreign investment firms for pennies on the dollar. Barclay’s takeover of Lehman Bros is an example of this. Bernacke knows it and so does the Financial working group (the President’s emergency team for such situations). If this keeps going then every mortgage and every asset the used to domestically could end up in the hands of foreigners for pennies on the dollar. Forget about the war on terror in this case. You have handed the keys to your economy to others because of few safeguards within the current US investment system.

What is my point?

Musing #1: Last week’s financial meltdown showed me that I was lucky to still be in the game. I still had shares in a company that is still alive. Still has life. Still has a hope and a light at the end of the tunnel. There are many investors who cannot say the same. They invested in the 150 year old “Red Woods” of the financial industry and saw their investment vanish in a matter of days. Vanish to nothing but paper. Ask anybody a month ago whether they considered Pinetree Capital or Lehman Brothers to be a greater risk, and they would have chosen the former. But as of today Pinetree (once of Noront’s major holders) is still around, raising money, and Lehman’s is bankrupt).

We too hold paper. Paper that allows us to share in two very exciting projects called Windfall and the Ring of Fire.

Fact #2. You still have your shares. Noront is still drilling. Commodities are trading very low at the moment except for Gold. Nickel and Plat are half of what they were a year ago. Okay, this is more than one fact but you get the point.

Musing #2: There is nothing that you, I, and possibly Richard Nemis can do at this point to cause the share price to go dramatically up in the next couple of months. Let’s take the lamp shade off of the pink elephant in the living room and start to figure out how to live with the smell until such time as the elephant decides to leave. This is just the way it is. It has nothing to do with Chrome values, Chrome demand, Nickel, Gold, money in the bank, amazing assay results, average assay results, bashing, pumping, or even what one poster on here says at a given time. As many on here have said. The current price has nothing to do with true value as the market is broken.

The Canadian Junior market was primed for this free-fall over a year and a half ago. Please read an article which I consider to hit the nail on the head (link is at the bottom) and you will find two things that will put your mind at ease:

1) The cause of Noront’s current share price and free fall for the last six months.
2) The hope that will come as Noront is (in my mind anyway given the assay results, the money in the bank, and the industry connections) one of the elite in the Canadian junior mining industry. If I am not mistaken they were considered the #1 mining company on the TSX Venture in 2007 so we should top that list.


Being top of the elite list does not mean that we are immune to all of the other crap going on around us. What it does mean is that we are primed for the greatest return on risk percentages once the market recovers, commodities recover, and Noront actually starts to mine and sell the goods at a time when other companies have gone under.

Fact #3: This will take some time and it is not likely to happen anytime soon.

Musing #3: Our addiction to seeing action everyday needs to change to a well thought out strategy for holding until some very important pre-requisites line up.

First, the market needs to recover from its current emergency status. The bartender on the ship is unlikely to make sales when ship is sinking. The party has been postponed.

Second, investor confidence needs to return. Once the safe markets are saturated, investors will begin to take risks again in the junior markets. This will follow a commodities boom which should begin once the 2009 round of financing wipes out a majority of junior miners who had good intentions but hit bad timing. The juniors feed the majors and like baseball, no new kids means no future and more demand for those that can still throw. Only those, like Noront, who have something to produce will survive and feed the majors.

Finally, emerging markets need to consume current inventories which will dry up as the feeder systems that help to produce these inventories dry up. Lower inventories mean higher prices and higher prices mean increased profits for those in production until such time as new entrants equalize the market.

While this sounds daunting to those of us who thought we might be around for one or two years tops, a long term view and patience will bring rewards from this elite junior that many other investors will be envious of.

Noront has moved from explorer to one with proven reserves open at depth. In the two to three years it may take to become a producer, the inventory levels for these commodities may be so low due to industry attrition that a perfect storm erupts for us.

Musing #4: Read the article below and see this moment for what it is. Think big picture. Think beyond today’s price and what might happen next week. View the business sense this makes long term and hold on for the ride. Bad luck and bad timing for many of us in previous purchase price levels but an opportunity to acquire shares in a company that is solid at very discounted prices.
I purchased 1000 more last week at $1.60. I did so not knowing if the next day I could have bought more cheaper. The key is that I will continue to acquire more as money becomes available. It does not really matter at what price as I am not into this stock to make pennies or dimes. I am actually quite greedy with this one and want to see another 10X return.

Sorry for the long winded musing. I needed to set up the backdrop to my future musing called: “Misfit’s Big Adventure” which will tell exactly why last Saturday my road trip into the heart of California’s historic gold country was the most significant day of my investing life to date.

Here is the link to that excellent article:

http://www.kitco.com/ind/hamilton/se...

M1.

 

[lor]

<TABLE width="100%"><TBODY><TR><TD>Thursday morning thoughts from TC</TD><TD align=right>

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Good morning. In Asia the major indices are all in the red this morning, but the losses are all under 1%, with very light trading volumes. It appears the Asian markets are in wait and see mode, with investors standing on the sidelines, waiting to see the details on the US bailout plan. Foreign financial institutions are finding it extremely difficult to borrow funds from Japanese banks, as they are reluctant to lend right now, until some of the risks are removed, meaning, they want to see details of the US bailout/rescue plan. In Europe the major indices, are mixed right now, with the FTSE in England being the only indice trading in the red, this because of weak oil stocks outweighing the banking stock gains. However, the light volumes of stocks traded, show they also are in wait and see mode, with uncertainty about the US Treasury's bail out plan. The markets worldwide know there needs to be quick action by the US lawmakers, as the alternatives are very dire for the world's financial system. On the economic calendar for today we have the Durable Goods Orders and the Initial Jobless Claims numbers at 8:30am. At 10am the New Home Sales numbers are released. The early futures numbers are pointing to a positive opening, for the US indices. All eyes today will be on the emergency meeting, called by George Bush to hammer out details of the bailout/rescue plan. If US lawmakers fail to come to a quick resolution, the markets could get very ugly to end the week. On the flip side, if the plan is passed, we should see an initial euphoria spike, in the indices around the world, as the financial crisis will be perceived to have received a bandage, to stem the flow of blood in the streets, that has plagued the world's equity markets. Plain and simple, the world's financial system, teeters on the edge of a cliff.

Back in McFaulds Lake, the big 3, NOT, FWR and FNC, all enjoyed a positive day for their share prices. NOT's share price once again traded in a tight range all day, on well below average volume, but did close just one cent under the high of the day. I'm not sure if anyone noticed but NOT's share price finally closed above it's falling 13(MA), which is at $1.82. For today we have support at $1.65 and $1.95 is resistance. "If", NOT can open, trade all day and close above it's 13(MA), that very important (MA), will become support. The chart indicators are for the most part bullish, but yesterday's low volume make them suspect at best. If NOT can break atop the resistance point of $1.97, a test of the 50(MA) at $2.63, would be the next target.

We continue to hear rumours on the possibility of a major, buying in, for a percentage of NOT. This would most likely be for a percentage of NOT's chrome discovery. I would doubt, if it indeed does happen, that the buyin price would be for much more, if not a little lower, than NOT is currently trading at. But what it would do, is give NOT a much needed cash infusion in their treasury. NOT currently has around $40 million in the bank, but in the markets of today, you can never have too much cash. If NOT could raise another $20 to $30 million dollars, it would be well financed for the next couple of years. This would be seen as a huge boost to investor sentiment towards NOT, as many believe it will be very tough for junior mining companies to raise cash for the next couple of years. The reality of the markets for junior resource stocks is cash will be king. There will be two types of stocks in the resource stock world, those that have cash and those that don't. Those that don't have cash and are in need of financing, any where down the road, for the next couple of years, are to be avoided like the plague. The middle class, so to speak, will be wiped out in this new economic order for junior resource explorers. You will either be part of the elite group(those with cash), or you will be part of the slum group (those in need of cash). If you are part of the slum group, you will be basically worthless. The writing is on the wall and those that don't pay attention to it, will be sitting on dead money for a long time. JMHO

FNC had an interesting day yesterday, with it's share price up over 20% for the day. I would imagine that FNC's share price was up, due to the rumour that NOT, following a conduit, ended up drilling under the property line, into FNC's side. The rumour is, NOT phoned FNC and was given permission to drill. If true, this could/should be very positive for FNC's share price. From the visual update given by Peter Smith, in the first 3 holes of his current drill program, it appeared FNC was finding all the right indicators, that mineralization was very near to where they were drilling. However, they had failed to hit the motherlode. I don't pretend to know or understand all the complexities of trying to find mineralization of this type, but I think the easiest way to explain it, is they are trying to find a needle in the proverbial haystack. Once it is found, then they can expand on it, with step-out drilling. Investors may want to keep an eye out for the expected announcement from Peter Smith, that financing details have been arranged for their PP attempt. It is not easy to try an arrange financing in the current market environment. For someone to put up the kind of money that this PP is looking for, one would have to believe they have done their homework and indeed believe, FNC has a good shot at finding something of significance. I do know for a fact, FNC is not searching for chrome, in this drill program. Think nickel or PGE's!!!

FWR's share price had an excellent day yesterday. The share price was up 20% and the volume was almost 5 times the daily average. All the chart indicators are very bullish. The close at $.30 is at or above all it's major (MA)'s. Today if FWR can open at $.30 or above and close above $.30, it would be extremely bullish and would then have the 200(MA) as support. Yesterday the rumours were rampant with news, that FWR and made another hit in it's drill program. Judging by the volume, the rumours certainly appear to have some validity to them. Many are expecting this new hit to be a nickel discovery. I would like to advise caution if this is the reason you are buying or holding shares of FWR. The possibility that this hit is another chrome discovery, should be in your realm of possibilities. After seeing yesterdays volume and share price appreciation, it is certainly possible we could see FWR halted at some point today, perhaps before the open. If there is no halt, it would raise the odds significantly, that this indeed, is another chrome hit. You can be sure any company drilling in the ROF, that comes up with a visual core sample of nickel mineralization, over any respectable intercept, would halt their stock, to tell the investment world. The words, "mineralized massive sulphides", would certainly wake up the investment world. I'm just not convinced that FRW's latest drill hole will have the words, we are all looking for. JMHO

Once again I would like to offer the readers of this board, the opportunity to see what this site is all about. Currently the site is offering 7 day free trials to those interested. For those interested in the ROF stocks, the topic of conversation in the LongTerm Investor chat room is often about these various stocks. Some of our members tell our entry and sell points on some of these stocks and the reasons for doing so. You would be amazed how your portfolio grows in cash value, if you apply some basic investment techniques, to the way you manage your portfolio. Often investors tell me their reason for not going the site is the cost of $20 a month. My simple answer to them, it is not a matter of how you can afford the $20 a month membership fee, it is a matter how can you afford not to be a member. One simple trade and you can afford to pay years of membership dues. JMHO

Best of luck to all McFaulds Lake investors.




Al

 

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<TABLE width="100%"><TBODY><TR><TD>Friday morning thoughts from AB</TD><TD align=right>

</TD></TR></TBODY></TABLE>
Good morning. Overseas, the major Asian indices are down again this morning, with the Hang Seng down 1.33% and the Nikkei down .94%. The concern here is the failure of the lawmakers in the US to come up with an agreement on details for the $700 billion bailout plan. In Europe all the major indices are down in 2% range. The financial stocks are leading the charge down in Europe, after the U.S. failure to agree a $700 billion financial sector bailout plan and the collapse of U.S. bank Washington Mutual. On the economic calendar for today we have the Chain Deflator-Final and the GDP-Final numbers at 8:30 am, followed by the Michigan Sentiment-Revised numbers at 10 am. The early futures are showing a sharp decline is coming for the US indices at the open today. Any further disappointing news, from the US Congress, to save the $700 billion Wall Street rescue plan, and todays declines could pick up some steam. When you have the Republicans in the US Congress, failing to back up their Presidents own plan, it shows you the sad state of American politics. In the US, politics to these spineless politicians is more important than the worlds financial system. No wonder we are starting to see calls from world leaders to abandon the $US currency as the world standard.

Back in McFaulds Lake, NOT's share price was down 5% yesterday, on the lightest volume of shares traded in over 3 weeks. Once again NOT failed to hold the support of its 13(MA), now at $1.78 and closed under this important MA. Looking at the chart the sideways consolidation continues and for today, NOT has support at $1.65 with $1.91 it's resistance point. The chart indicators have all turned flat showing the consolidation pattern. Obviously it is going to take news, to get NOT's share price motivated, or a change in market sentiment towards junior mining stocks in general. At this point, the news will have to come from something other than NOT's chrome discoveries.

So the big question is, what will it take to get the market to realize that NOT, deserves some sort of valuation from their chrome discoveries? NOT has done it's part, they have drilled and found some very impressive grades of this chrome. They have proved with their drilling programs, they have some massive tonnage of this high grade chrome. In fact, it has become obvious that the chrome discovered on just the Blackbird One and Two deposits is a world class discovery. There are chrome mines in operation, around the world that appear to have far less of this high grade chrome than NOT does. Yet the market gives NOT, very little valuation, if any, for this world class discovery. If you sit down and do some very rough calculations, you quickly come up with some valuations in the tens of billions of dollars range. I would be surprised if the chrome found so far wasn't worth at least $30 billion dollars, probably much higher. I realize the McFaulds Lake area is very remote, the cost of putting in a road and a railroad and the necessary infrastructure would probably cost at least $100 million dollars, if not more. However, when you are talking tens of billions dollars worth of mineable ore, the infrastructure costs look miniscule to me. I sit here scratching my head on this one, what am I missing, why is the market giving NOT no valuation for this world class chrome discovery?

The word on the rumour mill is that NOT is close to announcing a deal with a major. Before going any farther with this rumour, I want to caution everyone it is just a rumour, because unless we hear it from an official news release from NOT, it is far from fact. It doesn't matter if this comes from the horses mouth or his behind, nothing is fact, until accompanied by a news release. What we are hearing is NOT will sell off 10% of their chrome discoveries for X amount of dollars. I hear it is just for the chrome part of NOT, but it could be for 10% of the entire company. Once again, with no nr, these sort of things have a way of getting mixed up. If indeed this is true it would do two very important things for NOT. First it would give NOT a cash infusion to add to their already $40 million dollar cash position. In the current market environment the more cash the better. This would set NOT up with enough cash to keep drilling for at least two years, possibly three. Secondly and probably most important, selling a percentage of their chrome discovery, would show the market that yes indeed, chrome does have value. If a major puts a valuation on the chrome discovery, I'm sure the market would soon follow.

Putting all the above aside, what NOT really needs to get it's share price righted, is another nickel discovery of significance. The North American market may offer no valuation for chrome, but it does understand nickel discoveries. We should be getting some assays back soon from some of NOT's nickel discoveries. Eagle Two and AT-12 both have assays pending. We could also be hearing news from NOT from the Eagle One drilling. Now that NOT has decided to go back and add some tonnage to the 43-101 of Eagle One, we could be hearing some high grade assays again. It is important to note that NOT has always maintained the Eagle One deposit was open to the south and at depth. If NOT gets some high grade assays on its step outs from this deposit, it should generate some market excitement again.

FWR's share price continues to do the slow creep. It was up 6.66% again yesterday on far above average volume. At first many investors assumed with this kind of volume and share price appreciation, that FWR must of hit, more than just chrome, on their drill program. But from all accounts we are hearing that yes indeed it was another huge intercept of chrome that they discovered. The strange thing here being, that FWR reported a 100M intercept of chrome on their 1st drill hole and the market just yawned. Now we hear they have hit more chrome and the market responds. Mac Watson President of FWR has stated, they will no longer be drilling for chrome, they already know they have an abundance of it. Now the rest of their drilling program will be focused on hunting for nickel. The VTEM survey has identified some drilling locations, that many are saying looks much like the Eagle One geology. Perhaps the market is looking ahead to FWR drilling these prospective nickel targets. At one time when companies drilled in McFaulds Lake, investors did show some speculation fever. It has been so long since we have seen the market offer any speculative value to stocks drilling in McFaulds, this one has caught some of us by surprise. One important fact that should please many investors in FWR, is that this high volume, is chewing up some of the free trading paper from past PP's. Once FWR can clean up it's share structure from it's past PP's, this stock just might gets some legs. Many in the mining industry have nothing but good things to say about Mac Watson, he is highly respected by his peers. It certainly would be satisfying, to see one of the underdog, good guys, hit the motherlode. Best of luck to the many investors in FWR that have been so patient and hung in there through some rough times.

PRB's share price is slowly creeping back, after being crushed by their drilling miss on their McFaulds West property. We should be hearing an announcement shortly from PRB on a drilling date, to re-drill this property. I would imagine this is one of the reasons we are seeing the share price slowly creep up. Investors are in accumulation mode while the share price is still cheap, in anticipation of round two McFaulds West. Now might be the time to pick up some shares at cheap prices, for those that still believe in this company.

FNC's volume is back to it's anemic self again. Yesterday only 41,100 shares traded on this stock. The spread between the bid and ask makes playing this stock extremely difficult and one of the reasons why many choose to leave this stock alone. However, FNC may be down right now, but definitely not out. Where there is drilling there is still hope. I thought the news that NOT was drilling right on their doorstep may have given FNC's a bigger boost than it has. This is one stock you wouldn't want to bet the farm on. But, grabbing a few shares at current prices for those that like high risk, for possible high rewards, might be a prudent play right now. JMHO

BMK is another dog in McFaulds Lake, that may be worth taking a gamble on. Currently they are drilling and do have assays pending. If you go back and read their last news release, it does contain some tidbits of info, that offers some clues. BMK is not a company that does the rah, rahs, on visuals, so you have to read between the lines on their latest report. It does hint at some mineralization in their assays pending.

Best of luck to all McFaulds Lake investors.



Al

 

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<TABLE width="100%"><TBODY><TR><TD>Monday morning thoughts from TC</TD><TD align=right>

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Good morning. Overseas the Asian indices are down sharply this morning with the Hang Seng down 4.29% and the Nikkei down 1.26%. Investors in Asia are worried the US bailout plan is not a guarantee that things will improve. The Asian investors have now turned their focus on their own weak fundamentals. In Japan many economists are already predicting their economy has now slipped into a recession. In Europe the major indices are also down sharply, with the financial stocks taking another big hit, nationalisations and liquidity fears are hammering bank stocks and have overshadowed prospects in the United States of the $700 billion bailout plan for its banks going ahead. The banking stock contagion is spreading to mainland Europe and investors are wondering which bank will be the next to fail. Commodity stocks are also taking a big hit, led by lower metal prices on concerns the global economy may experience a significant slowdown. On the economic calendar we get the Personal Income and Personal Spending numbers at 8:30am. The early futures numbers are pointing to a sharply lower opening for Wall St. Perhaps when Congress votes on the bailout package later this morning, we will see a rally on the US indices. But it sure looks bleak at the open.

Back in McFaulds Lake, NOT ended last week on a downbeat, as it continues to struggle with trading above it's falling 13(MA). For today NOT has support at $1.58 and $1.82 is it's resistance. The 13(MA) is now at $1.75 and it must start trading above this level, or a test of it's 52 week low at $1.48 is probable. The weak market currently for commodity prices is obviously not doing NOT's share price any favours. Investors continue to bail out of resource stocks, on fears that a global economy recession will keep base metal prices under selling pressure. Personally I am starting to wonder if the Windfall gold project may be NOT's saving grace in the future.

The rumours continue that NOT is in negotiations for a possible sale of 10% of itself to a major. NOT's share price could certainly use the boost, it would get from a major taking a piece of it. The added cash to NOT's treasury would mean it would be well financed for at least 2 years down the road, possibly longer. A strong balance sheet, in these troubled times for the global economies, may mean the difference for survival or failure, for many junior resource stocks in the not to distant future. One thing about Nemis, he has stayed ahead of the curve, when it comes to keeping NOT's cash position in good standing. One has to wonder, at what point will the cash rich majors, start stepping in and buying up some of these juniors at cheap prices.

The above brings us to the point, of just how dangerous some of the permabull pumpers on NOT really are. When the glorieux type pumpers were telling investors to buy, buy, NOT at share prices of $6 and $7 dollars, everything looked rosy for commodity stocks. Now the bottom has fell out of the resource stocks and it may get worse. Many of the investors who max'ed out their credit cards and took mortgages out on their houses, for the sure thing called NOT, are now deep in the red. None of the glorieux type pumpers ever told their followers, to put in stop losses, to limit their losses. In fact they have just continued to pump the stock and now many investors have 100% of all their money tied up in NOT. I wonder what would happen if a major came along and decided to take a run at NOT, for let's say $2.50 a share. This would be a huge premium to NOT's current share price of $1.69, so the offer would probably be for less. Yes, NOT does have a shareholders rights provision. So NOT could make it difficult for a major to attempt a hostile takeover, but this provision doesn't make it impossible, by any stretch of the imagination. So after all these hurdles, are cleared by the major, lets say the final buyout price, could possibly get as high as $4 per share. I would imagine, a great percentage of shareholders, would jump at getting $4 a share for their NOT stock right now when the current price is $1.69, that would be one huge premium. However, if this scenario happened to play out, where would that leave the investors who payed $ 6 and $7 a share, with there max'ed out credit cards and mortgaged houses?

The morning thoughts posts have continued to tell investors to sell the rallies and buy the dips with NOT. The mere mention of telling people to use stop losses and take profits in NOT, when it was overbought, caused instant calls of basher, this daytrader moron is an idiot, posts on Agoracom. Most posts that warned investors where flagged, and many were deleted on Agoracom. The reason I finally threw up my hands and stopped posting on Agoracom's NOT and McFaulds Lake boards. I do feel bad for many of the newbee investors, that have listened to the permabull pumpers on Agoracom and are now sitting on huge losses for doing so.

FWR's share price continues to show share price strength and good trading volumes. If anyone has noticed, when FWR releases news about hitting chrome, the share price does nothing. However the word from Mac Watson, is FWR is now drilling for nickel and I believe this is the reason why FWR's share price is rallying. The VTEM surveys have shown that FWR's 100% owned property, has some excellent locations, to drill for nickel and investors are currently enjoying a speculative rally because of it. But, it is my belief, FWR needs to hit some nickel and it needs to do it soon, or this speculative rally will come to a screeching halt. The market continues to shun chrome and gives very little valuation, if any, to the market cap of any of these stocks that discover it. I'm not sure if this situation will continue, or what it will take to turn market sentiment around concerning chrome. The only thing I can think of, that will change the markets perception, is if somehow a major would take a piece of NOT and declare it did so because of this world class discovery. There is no denying that NOT and FWR are finding some excellent intercepts of high grade chrome. Or that is this is turning into a world class discovery for the chrome. But if the market doesn't give them any valuation whatsoever for these discoveries, does it really matter?

FNC continues to drill it's proximity property to the Eagle One discovery. Peter Smith is determined that this property has the motherlode and judging by how he got a PP rounded up, during a very tough time for financing, other investors seem to agree. It was certainly a bitter disappointment for many LT holders in FNC that the first 4 holes in this drilling program came up with no hits of significance. The first 4 holes apparently showed all the indicator minerals are there for a discovery. Finding a nickel discovery has often been mentioned to be like finding a needle in a haystack, so where there is drilling, there is hope. Come on FNC find that damn needle in the haystack, I went out on a limb long ago and predicted that FNC would be the mining story of 2008. I would hate to eat a full sized platter of humble crow, if I am proven wrong.

I continue to tell investors the merits of joining a site such as TradingChief. The thing about this site, is we are allowed to talk about the good, the bad and the ugly concerning each stock. The merits of looking at a stock not only from the fundamental side, but also from the technical side, is the difference between making money playing the stock market, or being a bagholder. If investors looked at the reason why they invested in a stock in the first place, it would be to make money. Why not use all the tools at your disposal and make your decision to make money playing the market, a reality?

Best of luck to all McFaulds Lake investors.




Al

 

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FWR NEWS...much better than expected....
Posted by: johndefur on September 29, 2008 10:18AM
First...All the "markets" are taking a horrible beating...except of course GOLD...This Financial "crisis" is far from over...Fed and probably all World Central Banks to lower rates...maybe that's when the "markets" settle down and resume upward moves...
But never mind all that, the BIG news of today is FWR's confirmation of yet another BIG CHROME "HIT" another 330Ft of CHROME, this time in many forms, massive, semi massive, banded,disseminated etc...The NR makes it clear that a late Dyke intruded the RIF Sill and altered,moved and seperated the original deposit into sub zones...But it appears that it's almost still all there...
Much more important the NR details more or less exactly how they were found and drilled...BTW this current section of said sill runs for at least 1600m, and more imporantly, the legnth of said sill is said to be at least 4 Kms...It turns out that these "Gravity" anomalies are being found near the edges, and NOT inside, of these High Magbetic Sill intrusions, which run 4Kms inside FWR claims, as noted above...If you go to Freewest.com, and click on Black Thor, the second page shows cery clearly, this HUGE Intrusive sill running thru FWR claims for 4 Kms in purple... You will also easily note that a very similar 4 Kms Sill exactly same colour runs thru SPQjv, which would mean that this section of Chromite mineralization is very extensive indeed, as these deposits remain completely open ended along strike and depth...Simmilarly, the Kemi mine increases in width with depth, so there may far more Chromite at depth...
An interesting mention was made of exploring for MMS NiCuPges...I have been urging both SPQ and FWR to look for these MMS deposits, in a similar situ/positioning as NOT's E1 to Blackbird 1...
This FWR News along with NOT's and SPQjv is absolutely a game changer for the ROF...As noted above this is a horrible market, and thus the share prices may not reflect this right away, but mark my words, in a few months this market situatiion will change abruply, and the ROF will be one of the first exploration/minig areas to get respect and attention/interest and investments....
IMCO
JD*

 

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<TABLE width="100%"><TBODY><TR><TD>

There's Got to be a Morning After...​

</TD></TR><TR><TD><TABLE width="100%"><TBODY><TR><TD align=middle width=50>

</TD><TD>By Jon Nadler

Sep 30 2008 9:08AM
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</TD><TD>www.kitco.com
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Good Morning,
A tumultuous night during which the Nikkei average dropped 483 points, was followed by some signs that a modicum of stability may be returning to global markets. Japanese stocks fell in sympathy with the brutal free-fall in New York, as if to say "we feel your pain - we've been there a long time ago..." A Franco-Belgian bank, Dexia, was the latest recipient of a life preserver over in Europe - a $9.2 billion dollar flotation vest, and assurances that the European banking system is still sound. Yes, sound enough for Monsieur Sarkozy to convene a summit of all French banking and insurance heads at the Elysee later today. Makes for a tinny and hollow 'sound. Well, at least there will be no partisan infighting about socializing failing banks - this is La France, after all, non?
It turns out that Monday's global markets were almost correct on the rescue bill, judging by their early morning declines. Almost. Trouble is, the markets only felt that the crisis rescue bill - as written - would not quite be the sough-after cure for the frozen credit and overpriced housing markets. Little did they know that the bill was never going to see the light of day, and that it was going to die early, and of unnatural causes, falling at the feet of bickering Republicans and Democrats before it ever made it out of Congress. In a nutshell, Main Street USA told Wall Street to drop dead. Drop, it did. And then some. 777 points by the close. Try to put some lipstick on that one.
A capsize of Poseidon proportions highlighted the biggest-ever drop in the Dow, an $11.50+ cratering in crude oil, and a complete meltdown in all commodities (but gold) on global slowdown fears, all contributed to a hyper-chaotic day in the markets. Gold acquitted itself quite honorably and stepped into its safe-haven combat boots as the lone standout in precious metals. Next up, the probability that currency markets will see an intervention, and that regulatory agencies step into the mess and eithe guarantee assets or take a giant blowtorch to the frozen credit markets with measures other than those that were built into the failed rescue package.
Yesterday was a day of panic, and panics usually does not yield very sustainable moves, let alone pretty results (see stocks) in the short-term. To wit, gold was off $21 at the start of today's session in New York, trading at $882 an ounce. Early action looked to be the mirror image of yesterday's patterns. Gold dropped while oil rose. The consistency in declines was still reserved to white metals. Silver lost 16 cents to $12.92 while platinum shed $38 more to reach $1022 and palladium fell $9 to 204. Gold ought not to have given up its nice gains from Monday, and it ought to have retained its momentum and continued higher on the back of yesterday's gains. Why? There is still plenty of fear to go around until such time as some kind of revised package is born and offered for consideration -say, before the weekend. In the interim, the Jewish New Year will postpone any such events by at least a day or two.
Stabilization means safer havens. Safer havens mean a lessened need for safe-haven holdings. All of which mean that today's early declines in the sole precious metal to survive and prosper during yesterday's financial cyclone (if we ever see the word "tsunami" being used again, we will stage a revolt) are fairly justified. The one asset that no one thought would be the recipient of all of this attention - the US dollar - is bouncing along at 78.20 on the index and rejecting the rumours of its demise - rumours that were quite exaggerated. Does this mean that all is well? Certainly not. Does it mean that we will somehow get through this and manage to still ? Very likely.
There is fear and loathing all over Main Street, Wall Street, and Capitol Hill but there are also those who are calling this tempest one of teapot-sized magnitude. Irwin Kellner at Marketwatch chimes in and tries to inject a dose of sobering caffeine into the drama that the media wasted no time in assigning scary superlatives to:
" We are nowhere near a depression, so let's stop talking ourselves into one.
Spiro Agnew's words of the Nixon era ring true today. The politicians, pundits and, yes, the press, are nattering nabobs of negativism. For example, in recent weeks, the broadcast and the print media have filed stories replete with scare words. You don't even have to look at the tabloids to see what I mean.
The front page of the New York Times recently described what it called "chaos" in the financial markets.
Not to be outdone, most of the first section of The Wall Street Journal one day last week was devoted to articles describing the "spreading crisis" in our economy.
And both newspapers have run stories using the word "depression" more times than I care to count.
Now, don't get me wrong, I am not saying things aren't serious out there, but another Great Depression? I don't think so.
If you look at the data, you will see more differences than similarities between the 1930s and today:

• In the crash of 1929 the Dow Jones industrials plunged 40% in two months; this time around it has taken a year to fall 22%.
• The jobless rate jumped to 25% by 1933; it is little more than 6% today.
• The gross domestic product shrank by 25% during the early 1930s; it is up over 3% during the past year.
• Consumer prices fell by about 30% from 1929 to 1933; and the last time I looked they were still rising.
• Home prices dropped more than 30% during the Depression vs. about 16% today.
• Some 40% of all mortgages were delinquent by 1934 compared with 4% today.
• In the 1930s, more than 9,000 banks failed compared with fewer than 20 over the past couple of years.

Remember also it was policy errors, not the stock market crash, that caused the Great Depression:

• Instead of increasing the money supply, the Federal Reserve of that era reduced it by one-third.
• Instead of lowering taxes, Herbert Hoover raised them.
• And to channel whatever demand was left into U.S.-made goods, the government enacted the Smoot-Hawley Tariff Act to keep out foreign products; this only provoked our trading partners to do the same.

Add to this today's automatic stabilizers such as unemployment insurance and Social Security, the FDIC to insure bank deposits and circuit breakers to keep stocks from falling too quickly, and you can see why this is not a depression in any way shape or form.
While I am at it, I would like to take issue with the almost ubiquitous use of the word "bailout" to describe the government's rescue package.
Folks, this is not a bailout of anyone, not Wall Street, not Main Street, and certainly not the so-called "fat cats." It's an infusion of liquidity, designed to unclog the financial markets. In doing so, it will benefit everyone, business and consumers alike.
Also, the $700 billion bandied about will not be immediately handed over to the Treasury secretary; he will simply have a line of credit, similar to what the typical business might have.
Finally, this package may not even cost $700 billion. For that matter, it may wind up costing nothing. It all depends on the price the government pays for these distressed assets and what it winds up selling them for."
A survey of gold gurus over in Kyoto at the LBMA summit reveals that most of them expect only modest gains from the yellow metal in the coming year. While allowing for one more spike in prices related to a possible worsening of the already bad crisis we are living through, those surveyed saw gold at about an average of $958 per ounce, fourteen months from now. In addition, they linked any such values being achieved and maintained on scared investors running to the gold umbrella. Without them in the picture, gold would have to contend with surging scrap supplies and evaporating fabrication demand - not a formula that makes for four-digit price tags. Quick, someone send these folks some hate e-mail for being 'bearish.' What do they know? They are only gold gurus.
Happy New Year. Who knows what 5769 might bring. We wish for good health and capital preservation for everyone.
Jon Nadler
Senior Analyst
Kitco Bullion Dealers Montreal

 

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<TABLE width="100%"><TBODY><TR><TD>Quotes from MD&A</TD><TD align=right>

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This was posted on the NOT board

a few quotes from the MD&A
Posted by: QQ_Girl on September 30, 2008 11:53AM

posted on Sedar today... QQ


The Company is actively drilling and working to define and further delineate its nickel-copperplatinum group metal and chromium discoveries at the Double Eagle Project. The Company is planning to continue drilling at the site of its Eagle One nickel-copper-pgm discovery for associated deposits along what management believes is a magmatic conduit that could host other similar sulphide bodies. Noront announced the filing of an NI 43-101 Technical Report and resource estimate on the Eagle One Deposit in August 2008. At Eagle Two, a second nickel-copper-pgm discovery, the Company has drilled to a depth of approximately 450 metres and continues to encounter shear hosted sulphide mineralization.

Noront is also actively drilling to define the dimensions of its two recent chromite discoveries at Blackbird One and Blackbird Two, and over time will move to other nearby geophysical anomalies to test for the presence of additional occurrences. Noront will also be drilling anomalies identified elsewhere on its claims in the Ring of Fire area in joint venture with its various partners. The Company’s overall strategy is to concentrate its efforts primarily on defining the relative scale of its current discoveries and on its most promising geophysical targets.

In addition to Noront’s own discoveries, early drilling by other companies in the area is further identifying the presence of massive chromite bands, leading the company to believe that this area has the potential to hold a world class occurrence of chromite.

Noront’s focus is shifting away from simply moving assets to a prospective stage, with a view to attracting third parties interested in participating financially or otherwise in the early development of Noront’s recent discoveries. The Company is fully engaged in exploring and developing the Double Eagle Project as well as the rest of the Ring of Fire and in continuing to add to its already extensive land position in the Ring of Fire area through option agreements and other arrangements. To support this effort the company has recruited a number of professionals to fulfill the rolls of Chief Financial Officer, Vice President Legal and Corporate Affairs, Chief Geologist, Exploration Manager and attendant support staff and field exploration personnel.

Management’s intent is to expand Noront’s controlling interest in additional prospects related to Ring of Fire area. Over the next year, management of Noront anticipates being able to separate its assets that are outside the Ring of Fire area so as to finance and manage them distinctly from Noront’s primary Double Eagle properties.

Please take the time to go and read the whole MD&A - it is an awesome summary of everything right up to date and holds many encouraging words....

QQ