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.)

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Re: 2012 Annual Report Financials

Noront Resources

almost 12 years ago

in response to Fossil's message

Thanks Fossil for the correction...........I admit that I missed those updates.......didn't read the report as thoroughly as I should have.

However, I am still concerned that approx $5M per year is going towards "Office and General".............especially since WH's statement that "Keeping our eye on your prize"seems to indicate that management's current attitude is somewhat "complacent". Is this a reasonable ongoing expense for what might be construed as the role of "custodians" for the near future? Is the value of our "prize" to be protected or enhanced and reflected in the future SP?

Our market cap is somewhere around $92M fully diuted. The capital requirement for the Eagle's Nest production is approx $877M, including working capital.

I would appreciate comments re the financing options for Noront to bring it into production and what will be the possible SP outcomes.

WRT the share award and options proposals, I will be voting NO.

Respectfully Yours

Geoprof