Noront Resources

That is 100% correct, we can get a loan based on assets in the ground, a least this is what the current management wishes to accomplish. This loan will enable us to pursue the plan as established by the economic assessment which is now being done. With this, we have no need to do a PP for the extraction of E1, however, as I understand it, these monies have to be spent exactly as indicated by the loan documents/Economic assessment and cannot be used for exploration or general company expenses. So we may need a PP for those other expenses. Another way is to sign a deal with a major or equity partner for a % of the company and establish a strategic partner.

Glorieux