Sorry but in fact it is not ridiculous. He clearly stated 'based on their defined resources' they are over valued. Since Noront has not yet published any defined resources for Windfall or Double Eagle they are indeed grossly over valued 'based on defined resources'.

On the other hand Noront have published sufficient assay results on Windfall and DE1 and visuals on DE2 for the market to assign, based on in large part on guess work and expolation a certain level of resources and value. If when Noront does release resource estimates and they are more than what the Market expects the share price will move sharply higher. If less then sharply lower.

Noront Managment have to be very careful what they say and don't say. Only what you see in a news release can they be held to so comments like 'blue sky' and 'open at depth' should be discounted until and unless they are documented in a news release.