To: jpthoma1 who wrote (14212 ) 9/24/2007 7:57:35 PM From: riverbank Read Replies (1) | Respond to of 39134 NOT-Pescod Canaccord, NORONT RESOURCES (V-NOT) $3.60 -0.77 It’s been amazing how Noront Resources has taken the market by storm at a time when most junior explorers are just recovering from one heck of a crash and now it’s reached a point where Noront has actually evolved into an area play. It’s hard for us to get past the fact that they still have only one good hole, albeit the fact that it’s a beauty, and has attained a market cap at one point recently that approached $600 million. You can buy an awful lot with $600 million and our tendency is to want to short this story. Unfortunately, there are no analysts that currently cover this story, so in many ways you are on your own. We do touch base though with a fellow who doesn’t want his name used who built one gold company up and sold it for a nice profit and hopefully is doing the same thing again. He suggests you take a look at Noront’s website and take a look at the core. “It’s beautiful” he says and it reminds him of what he saw when he was working years ago up at Thompson. “Same kind of stuff” he suggests, but he reminds us about nickel. “How many big nickel plays in the world are there?” he asks and you probably know by now that there are only a handful, but the handful that are out there are enormous. He reminds us that he was slow getting into Voisey Bay when they made its discovery, but there had been enough drilling out so that at $10.00, he decided to get on board and there was still a lot left as the stock did an awful lot of growing beyond that point. As far as Noront, he warns us that while the world has only a handful of huge nickel plays, the world also has a large number of small nickel pods that never develop past the test of commerciality. “Wait for additional drilling results” he says and “if they’ve got the goods, you still have time to get in”. If not, our original tendency to want to short the stock, remains.