Noront Resources Ltd. NOSOF

RE: How is this in comparison to Diamondfields

[Moneyclip]

Simply put, in my estimation NOT , at least the McFaulds assets will be taken out well before the $50 million you refer too has been spent on drilling. Remember the dilution will lower the eventual takeout price. Further the $10 million shares you refer too will be issued with a sweentner and quickly becomes 15 millon shares, fully diluted. NOT hasn't completely blown through their cash position as of yet and should be able to hold out. If they expect to grow this deposit, they will wait and do a PP in January, after blowing through their remaining budget. In the interim in order to stave of the dilution related to an additional PP, they can always divert some of the cash from their Québec gold ramp project, at least temporarily. this could be replenished in the spring subsequent to a PP at higher prices. Waintin and doing a PP at $10+ a PP next spring reduce dilution by half your suggestion and with additional positive results (add tonnage) should be on the close horizon. If management insists on doing PP now, prior to drilling McFaulds through the winter a small one, perhaps half the size you suggest $25 million would assure the drilling of several additional anomalies and to the ramp budget of their Québec properties. Personally a larger PP now would undermine my perception of the level of confidence management has vis a vis McFaulds prospects. The question is do we have the goods, if we do, wait.