These are the packages that would be merged, in order:

Calculating dependencies ... done!
Dependency resolution took 0.84 s (backtrack: 1/20).


!!! All ebuilds that could satisfy "x11-libs/agg[truetype]" have been masked.
!!! One of the following masked packages is required to complete your request:
- x11-libs/agg-2.5-r3::gentoo (masked by: free-noncomm license(s))
A copy of the 'free-noncomm' license is located at '/Volumes/Disk 1/Repository/portage-git/licenses/free-noncomm'.


(dependency required by "media-gfx/exact-image-1.2.1-r2::gentoo" [ebuild])
(dependency required by "=media-gfx/exact-image-1.2.1-r2" [argument])
For more information, see the MASKED PACKAGES section in the emerge
man page or refer to the Gentoo Handbook.