Seems awfully earlier for that kind of offer as they could likely purchase 10% in the market for less than $10 a share and then go to management and make offer for further buy in.

Noront does appear to be the key to a major taking control of the new exploration field. Deposits like this can be rich but big enough to keep two major companies busy is unlikely. Buy or control Noront and just maybe play divide and conquer with all the other players?

Put a premium on Noront unless somebody comes up with something even better than they have found.