Glorieux,

I may be naive but I don't think there is a straight line relationship between the market cap of the two companies NOT and FNC. NOT has tangible assets that one can make reasonable assumptions on open pit/underground mining, core assays you can put known price values to and three anomolies drilled. FNC really doesn't have a tangible market cap and investors are willing to pay $2.35 a share for it. I know I bought it and I didn't really consider the number of shares outstanding. I'm sure I am not alone and therefore will stand by my view that NOT's blue sky value starts at $2.00.