So what is NOT worth right now and how does our share price affect a take out solicited or hostile?

Let's first look at share price(trust me we should be a lot higher) But the people who control the markets; Fund managers, trading houses, Financial institutions are all in a financial mess and will do what ever it takes to preserve their wealth. Hence the sell off and we retailers are holding at these much lower levels with our heads spinning in disbelief.

Now in NOT's case, like most exploration companies, the real money is in being taken out by some one bigger. That said China is reputed to have some thing like a 300 billion dollar war chest for resource take overs. Major companies like Vale-Inco, Exstrata, Rio Tinto, Norilsk, even our own Teck Cominco are flush with lots of cash to make purchases( some of these company's are sitting on billions of dollars cash waiting to make their next purchase).

So what would a take over look like. First it would likely come from one of the several majors who signed a non-disclosure to get a special peek at what NOT has. An offer would be made based on our proven and probale assets, not what this present market is placing us at. The reason is simple if one major under valued their offer, the next major with the same knowledge of our resource would offer better. Than several would likely get into a bidding war causing our share price to vault to a much higher price. This would than wake up the money managers and lot, also causing them to further inflate the price of NOT shares. Of course the winner would get the prize. A resource larger than most here may even be able to imagine. But why buy something for more than you need to. So that is why any real attempt to take over Noront will be done with the co-operation of Noront's management at a fair value for NOT's known resources.

So what would an offer look like today. We know with Eagle 1 alone NOT has a proven/probable resource value of roughly 2 billion dollars NSR(net smelter royalty) So that means with out doing the required scoping study this is the estimated profit when the metals are sold into the market. Now to be the ultimate conservative lets just say NOT only has 2 billion dollars worth of resource. If a major where to offer NOT the same in situ value that was paid for voisies bay the offer for our NOT shares would be 40% or 800 million dollars or roughly $6 per share. Remember this value is for E1 only. This offer would give no value for, our chromite that is alluded to be worth multi billions of dollars, E2, AT12, Windfall, Burnt Hill(a developing joint venture mine going towards production), Lizar project(Ontario gold), Iron Lake project(Ontario), Hunters Point project( uranium), 3 Mexico projects, a China project and a project in Hungary.

With this said any body, who is honest here, knows very well Noront still has off the wall potential, in the ROF alone, that could be worth 10's if not 100's of billions of dollars. So those who feel we will be taken out prematurely before there is a substantial increase can relax.

I recommend that if there is room pull up a cot beside crazydik and have a good sleep before the party really begins.

Keep the Faith