Intrinsic is a private company and not listed on the exchange so there is at present no market for the shares being tendered to Noront for the jv claim. Since nobody knows the capacity of the company (what kind of cash do they have) it's very hard to find out if they can actually do what they say they will to obtain 50% of the claims jv'd.

This, I feel, is another example of signing jv's with weak partner and adds little or no value to Noront. The market didn't seem to like it either since share price slipped about the time of announcement.