Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

almost 16 years ago

For the record, AGORACOM has a major vested interest in Noront Resources. As a corporate entity, we have an obligation to maximize revenues and shareholders equity.

We unequivocally believe that Richard Nemis, the current management team and the current board of directors will provide the greatest long-term value on our Noront holdings.

If we believed otherwise, if we had any doubt in the abilities of the current management team and board of directors, we would protect both our interests and the interests of all AGORACOM members that are shareholders of Noront Resources.

We do not believe Rosseau Asset Management, Patrick Anderson et al are capable of providing the greatest long-term value for our Noront holdings. We believe there is a high probablity that Rosseau Asset Management, Patrick Anderson et al will take a short-term interest in the company that delivers an acceptable rate of return for their own interests - but far from the maximum long-term shareholder value that Noront shareholders expect and deserve.

As such, we are voting our shares in favour of management and urge all shareholders to follow suit.

Regards,
George