Sorry but your reasoning doesn't hold up. Noront has shareholder protection plan in place to prevent someone accumulating on the open market over a certain percentage of shares. Further Noront management don't have to accept any offer made so this is not a  reason not to release resource calculations.

Personally while I believe they are working on it they aren't in a terrible hurry since they have all the money they'll need to prove up a world class resource.  Really if the share price fell to $4 they could really care less. There really is no reason for them to pump the share price like other resource companies who habitually need to go back to the well to raise more money.