Quality vs. quantity.  If you hit a ball in the sweet spot of the bat it does not take a lot of effort to hit it out of the park.

Just looking at the Jan 30 drill targets that Noront now has on its website for the McFaulds area.  Five "close" targets are shown to exist near DE1.  Looking at the Freewest site and projecting the anomolies out I suspect we have several players in the "sweet spot" of McFaulds which all have potential to hit homeruns.

I would estimate that the Noront DE1 strike extends through at least 1 Fancamp claim, the Spider/KWG/FWR JV (one), Freewest 100%  claims (3 of 4), and Probe (catches a corner, they are reporting two targets).

So what will this mean to the companies involved.  Well if I have been following the valuations correctly for in ground valuation I have DE1 at $4 (10% in ground value); I will leave off the $1 value I give to NOT for Windfall for this arguement.  Any substantial strike that increases resources to a "mine stage" will bring in ground value to 30%.  So if another company is first to hit then NOT should triple to $12.

I will deal with the scenario that FWR hits a target since I know that stock the best.  I will leave Spider,Probe and Fancamp to others who follow them closely.  Looking at the outstanding shares of FWR and NOT I have used 185 mil for FWR and 123 mil for NOT.  A strike on FWR property similar to DE1 would produce   $4 * 123/185 = $2.66           Now these two strikes together produce tonnage worthy of a mine so in ground value triples so the FWR value is now $8 plus change for Windfall and Clarence Stream.

Recent trading in FWR indicates bigger players are accumulating stock.  The stock continues to hold a short term trading range within .22 and .33 .  For those hoping to trade for pennies the next month is certainly a time when they should consider holding for dollars.

The companies are receiving their aerial surveys and are double checking these with ground surveys.  More drills are moving into the area all the time and it is only a matter of time before this area blows wide open again.