It has taken some time, but I think I finally understand why our share price keeps going down. It is because our resource base is just too big for anyone to buy. Think about it, today there is news from White Pines on NOT’s joint venture property telling us they have discovered, “several promising new Zn-Cu-Ag Volcanogenic Massive Sulphide ("VMS")”, that is zinc-copper-silver. White Pines is up 5 cents or 17%, Noront is struggling to keep its head above water and has for the most part been trading down today.

We already have,

Eagle I - Ni-Cu-PGE deposit is comprised of a massive sulphide core containing high-grade Ni-Cu-PGE values, surrounded by lower grade net-textured sulphides.

Eagle II – second nickel-copper discovery two kilometres southwest of Eagle One.

AT12 – Drilling encountered visually observed nickel-copper-iron sulphide mineralization in cumulative-textured peridotite.

Blackbird I – massive chromitite mineralization

Blackbird II – massive chromitite mineralization

Thunderbird - containing significant concentrations of vanadium, titanium, and iron

Of course this is just NOT’s Ring of Fire assets. Just based on the above, NOT’s resource in the ROF has got to be worth 10’s of billions if not 100’s of billions of dollars. With hundreds of square mile of land to explore yet who knows ow much this property is really worth.

So my conclusion, with most majors in a cash strapped position, it would be difficult for any company to take over this play and no major can afford another to take this extremely rich resource. So we are in a behind the scenes, “Mexican stand off”. The first major to make a move could cause a bidding war that no major can afford at this time. IMHO