Regarding FNC: Wouldn't you look at FNC before they find any nickel? They wouldn't be able to afford Noront, because they are proving value at E-nest. But a 100mil offer for FNC would be a $2/share offer, which to many FNC shareholders would seem very atractive as many bought in around that price. They know FNC has continuation chromite of FWR, SPQ, and KWG, and they might try to steal it for less. They'll probably make a cheap $50mil offer and hope for Peter is also cheap. Oh, that's a stretch. They could tap into Peter's exhasperated overly-patient shareholders and make an offer for ROF land only. Of course, wouldn't Cliffs want Magpie as well?