It's good to look at details. Fact is that some very smart investors with deep pockets bought into a PP and exercised most of the warrants that went with this PP. Their average cost per share is $4.50 and you can bet they didn't put up the kind of money they did without knowing the actual value of Noront at that time was more than $4.50 and likely would be over $9.00 in short order.

I can pencil numbers on the back of an envelope all day but still come back to the fact that those guys know more than me and are smarter than me. Sooner or later the Market will 'get it' and Noront will once again be valued a lot higher than it is today.