What would you have the man do? Buy every share as it came up for sale at a continually higher price? Noront has discovered the equivalent of a "diamond on the moon". It may have great value but it cost you more than it is worth to travel there and get it. It is insultingly that simple. Now, if there are other discoveries or you can partner with someone who has a discovery, the risk/cost is decreased. Right now, I think the market believes the discoveries have been made, the partners who need to work together to make this viable are refusing, and the provincial government are not ready to make the commitment for infrastructure. Probably because indications are the number of jobs may not be there to support a decision of this magnitude. There is a lot of synergy that can happen but everyone seems to be wanting guarentees and there are none. At some point in time, they will have the guts to act, but governments and mining companies are excruciatingly slow. I am not much of a fan of Wes or his team but I do sympathize with his situation at the moment.

Any time an entity gets mentioned in a provincial budget document, it is huge. I have to say though, despite the fact I was encouraged by the name "Ring of Fire" appearing three times, I was disappointed that there were not more definitive actions and actual fiscal strategy included. Below is a paragraph from todays Globe about the Province of Quebec's budget and their mention of the Labrador Trough:

Quebec announced in its recent budget three measures that could help jump-start more mining in the trough. It said the Caisse de dépôt et placement du Québec and Canadian National Railway Co. are planning a feasibility study for a second rail line into the region. Hydro-Québec has also been asked to study extending the provincial transmission grid, which would benefit new producers. The province has also earmarked up to $1-billion for investments in new mining and petroleum projects. In addition, Ottawa has announced it will invest up to $55-million to fund construction of a deepwater dock at Sept- Îles, Que., that will be used for shipping ore.

That is the kind of language we need from the Ontario government.

The $2.0 million figure must be for preliminary engineering because the railway would cost more like a billion. It is a bit confusing unless I am missing something. However, despite that, the article is very encouraging in that it portrays a level of commitment and cooperation. Hopefully once capitol funds are sourced, they will all be pulling on the same oar and we can get some movement ahead.

I have not posted here for quite some time. However I read most posts and I have noticed there has been a common theme on this board with all the posters that come and go. First of all, there is a realization of the value of Noronts deposits, then there is the waiting, and the monotony of waiting gives way to bewilderment that nobody else gets it. It all gets rationalized into manipulation, hedge fund extraction of value and dilution of share value. All this is going on without a doubt, as it does with nearly every junior explorer until they get taken out by a major. Nobody is diddling with the companies Cliffs took out and as K says, lots of retail made money on these deals.

What has always been clear to me, even though I have lost patience with this stock several times, is Noront has great value that is offset by infrastructure liabilities. By my rough calculations, NOT has about $8 billion insitu value in M&I and $5 billion in inferred deposit at Eagles Nest. This does not include the "R" elements or the chromite. Cliffs presentation says they have 69.1 million tonnes of chromite which at $325 per tonne is $22 billion. Just these two deposits alone are worth $30 to $35 billion dollars. The only thing that separates this ore from the rest of the world is a transportation link. Three scenarios are on the table, all weather road, railway and slurry pipeline. Government appears to be wanting this area to be developed. Ontario needs this and Canada needs this. In my opinion, this will happen and the share price does not in any way reflect the value of this company.

Well, there are certainly negotiations ongoing. Only a week reprieve given this time. The market seems to be having a wait and see attitude. I thnk the suspense is getting the better of many. Pete, have you been talking to anyone onsite?

Mike

Bit of a roller coaster here last few days. back up again with the 28th on Monday. Somebody know something?