First they have to gain assurance that the total value of deposits will be large enough to form a major 'camp' that will be in operation for many years.

Noront has proven up enough now and has the geological data to prompt a Major to start doing heavy 'due dilligence'.

Next a major will want to consider an entry point. Do they wait for full workup of deposits and potential deposits or do they consider 'taking a position'. Taking a 'position' gains them some early looks and bit of advantage when it reaches the bidding for control stage. It potential gains them large profit even if they lose bidding for control to some other major.

You can't even rule out two majors both buying into an early 'position'.

Of the two possibilities the first seems likely to be some ways off as Noront and others active in the area are still gathering geological and deposit information. Majors don't like to 'gamble' and have the money to pay what ever it costs for a 'sure thing'.

Noront's 'road trip' will be given a good shot in the arm by todays news release and hopefully make their job of convincing institutional investors to take a position.

Wonderful time to be a Noront Investor.