I do see your point. What this also means is that all the other land up there Noront holds with the exception of holdings within a few kilometers of their DE find isn't worth a terrible lot of value in share price.  Pretty much the full value in Noront is their DE claims, maybe a buck for Windfall and rest the 'blue sky' exploration.

Personally I still feel they are undervalued at anything under $5 but it's a tough market and I'll lighten up holdings above $5.50 .