Nobody wanted to believe me when I said Noront's burn rate was higher than they thought. With 26 million dollars more in the bank and good chance of more from warrants they are even more firmly in the drivers seat.

Expect Noront to have a lot more drills starting up in spring, bet they've ordered them already. It's terribly expensive to drill in the far north especially when they want to infill drill to define deposits. This extra money eliminates a big worry and gives Noront the ability to do deals not otherwise possible.

Cheap financing if it brings in the ore bodies required to sell out to major faster. Looks good on Nemis and management. A 10% discount from Market is reasonable and warrant conditions the same even if I'd have preferred 1/2 warrant per share.