"A buy out at a low sp would concern me more if the BOD had shelved drilling while reorganizing after the proxy fight. Noront could have been sold as is last year."

Great point!

"I understand that that companies may delay drill results for a certain amount of time. I find hard to accept that they could drill, get great results keep silent and then sell the the company."

Doesn't seem likely does it?

"I would expect that any sale price would have some relation to what lies in the ground."

We can always live in hope, but as we know the ratio of what's in the ground to what the Shareholders get in a sellout is pretty skewed. Just the nature of the biz.