While I prefer a spin off with ownership solely in hands of current Noront investors the possibilities you bring up don't sound bad. IF the price is right.

If I get this right you indicate a possible joint venture with, likely, a producing gold producer to take over a percentage of claim ownership and sharing in revenue based on that percentage ownership?

Usually such a deal would include some or all of the following.

1: Upfront cash payment for percentage ownership

2: Commitment to expend funds to reach production, such funds being paid back from production before splitting profits between partners.

3: Net Smelter Royalty to Noront

My feeling is that #1 is still a stumbling block as mineral resources haven't been established. This could be offset by setting a larger net smelter royalty or perhaps sliding scale of percentage buy in. Something perhaps like 20% now for x dollars and upon preparation of resource study and additional 30 or maybe even 40% at a price based on reserves proved up.

Overall I'm confident that Noront knows how to structure such a 'deal' to the shareholders immediate and future benefit.