I take back the snide comment I made about the chemicals they were on. It's a pretty complete 'very conservative' review of Noront's DE property. Not a whole lot of 'blue sky' built in. Feel there 7% of insitu value is off but 'very conservative'.

My guess is these guys are closer to a complete picture than the dreamers on Noront forum looking for $20 in short term. Using there figures you get upside valuation of $8 if 4 million tons identified but that's still basedon the 7% insitu which, I feel, would change upward as more tonnage is added into the equation.

Guess we'll have to sit back and wait but for me their upside targets for 12 mths is way low.