Noront Resources Ltd. V.NOT

David Pescod''s Late Edition

[u308gold]

NORONT RESOURCES (V-NOT) $3.94 Halted We will print here what Canaccord’s comments were on Noront Resources from today’s “Morning Coffee”: “All for...NOT announced yesterday that there are now photos on its web site (www.norontresources.com) of the drill core from hole nos. NOT-07-01, 02 and 05 from the company’s Double Eagle project located in James Bay Lowlands, northeastern Ontario. Shares of Noront are up over 300% this week. Why the excitement? The company announced a potential new nickel/copper discovery. Noront released partial results from hole NOT-07-01, which returned 1.85% nickel and 1.53% copper over 36 metres, with results from an additional 30 metres pending. While this is an encouraging discovery, management indicated that the tenor on mineralization in the hole waned to depth, so it is possible that the grade of the remaining core may not be as high. The company also noted that two holes drilled to the northeast and southwest failed to intersect mineralization. The next results to watch for are from NOT-04-05, where chalcopyrite, pyrrhotite and pentlandite, minerals, which contain copper and nickel, were encountered between depths of 47.4 and 112.6 metres. Caveat emptor, Noront now has a market cap of nearly $356 million based on one partial drill hole. OUR COMMENT: Actually, when you add in warrants, this market capitalization on Noront is closer to a half billion dollars which means while this company has done an amazing job at capturing the markets attention, they are going to have to deliver some super drilling results to justify a market capitalization closer to half a billion dollars….stay tuned.