Noront Resources Ltd. V.NOT

Primary Symbol: NOSOF

Metals & Mining Industrial Metals & Minerals

Noront Resources Ltd is a mining company. It is engaged in the exploration, development, and acquisition of properties prospective in base and precious metals, which includes nickel, copper, platinum group metals, precious metals, chromite, and vanadium. The company's developmental project consists of Eagle's Nest nickel-copper-platinum-palladium deposit, deposits of high-grade chromite and copper-zinc volcanic massive sulphide deposits which are part of the company's McFauld's Lake Project. Its assets are located in the area known as the Ring of Fire in the James Bay Lowlands, Ontario.

OTCPK:NOSOF - Post by User

Noront Resources Ltd.

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Post by hsyxuon Apr 12, 2013 3:06pm

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Post# 21277016

Proxy Material

Please read your proxy material CAREFULLY.

You are asked to 1. approve the act of taking out a significant loan, which can lead to 2. Creation of a new Control Person. (Loan agreement dated Feb. 26, 2013)

The loan carries a 10% rate of interest and is to be used to further the development of the company's Eagle's Nest project as well as for working capital and for corporate requirements.

How can a company that is not yet in production repay a loan with a 10% interest rate in one year? Where does that leave you, the shareholder? - I have owned shares in one other small company that had to borrow under similar circumstances, and that company went bankrupt.

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