Noront Resources

to summarize.... NOT AGM & Neil Novak's comments.

Posted by: yellowknifer on October 28, 2008 08:19PM

In response to: Re: A question for Kelsee by kelsee

i spoke with Neil for a long time after the agm ...my daughter and i went back upstairs )))):

we spoke at length:

firstly: the NOT COMPROMISE according to neil is a very good one

it gives a new BOD more depth and diversity going forward as head of a TRANFORMED company ...junior to a mine

Neil says the new directors have "long term" goals (not quick buck philosophy)

he knows personally.

the JV MEETING ON THURSDAY IS WITH kwg... it's about who will operate next year... SPQ does have the right to do so should Neil deem it appropriate. (long story)

meeting with fwr is coming up as well... (they will talk about a future feasability study, which is a par tof our agreement to option the fwr property. (very promising)

we are doing a small proramme in wawa right now ...we must spen the desired amount to keep the property. this is good ~!

we have 3.8 million now ...still ...this is good !!

as he told me @ the PDF ...PEOPLE ARE STILL CALLING US to offer funds for a PP ....ThIS IS GOOD (..BUT HE did mention: not when we are at 3.5 cents)

uc's deal is still not signed but it's almost there ..indeed they are going ahead with drilling ...the hold up involves getting the right formula in place on paper so that at any given time in the future, if a big major want's to buy us out, then all three parties will immediately know where they stand for buy out share at any time ... finally i understand why it's taking so long ...and it's a worthwhile effort to say the least, as most will now realize.

we talked a lot about chrome ...beleive this is exciting ...it's worth just as much as having 8% copper in all of these massive deposits ....and it's the best chrome ...and it's the only show in north america.

we talked about the road... it's about 200 k for an allweather raod.

things are looking positive as per aboriginal involvment.

lastly we talked a lot about the whole project .... @ the ROF ...YOU KNOW THE BIG 3 NOT---SPQ---FWR.

i can tell you that most of the experts (mungle as an example) beleive that we another Sudbury right here in ontario.

well that's all for now ..i will go over my notes and talk to you tomorrow.

cheers ....danny