I’m slowly coming around to the view that there may be more than one mining company eventually operating in the ‘ROF’ even if personally I don’t think that would be the optimum situation for Noront. Also positive Noront Management are considering all possible situations and how to come out on top no matter what is the end result.

If the ROF is, as estimated by some by Geologists, comprised of a large number of well mineralized deposits, the inference being that while some should be of good size it is not expected to find one single Sudbury or Voisey Bay type deposit. Keep in mind that Major Mining Company wants to see many years of resource, as that’s required to amortize costs and recoup infrastructure expenditures.

It will take at least one Major Mining Company to start the ball rolling and who can front the major costs involved in setting up infrastructure. It’s this company that Noront is likely eager to identify early and present with a package that makes economic sense.

This is going to take more than a DE1 and 2 no matter how rich the deposits. Noront and their JV partners are going full out to be the first to fill a basket with goodies. Maybe they can bring such a major in before the basket is full as it would be less expensive, though riskier, for the major who would then front a good part of ongoing exploration. Noront has plenty of cash but there are one awful number of good targets and Nemis might want to play a safer long game.