Which isn't always comfortable for retail is to put together a 'package' which a 'major' would be comfortable buying into. This means expensive infill drilling to arrive at 43-101 for deposits and not just drillling some fantastic holes.

Don't get me wrong and think I'm hammering FWR as they sure have promise. Fact is though that Major's don't layout big money for promises and want to see a signed statement indicating proven and inferred resources.

Noront from the very start insisted on checks to ensure when they report 'here is what we have' you can pretty much take it to the bank. That's expensive and yet the same approach is now being taken to Chromite deposits. It's all fine and good to say 'Nobody knows what we've got' and indicating a target of 100 million tonnes BUT majors don't commit money without documentation of resources. Therefor documenting 40 or 50 million tonnes makes that deposit worth a lot more than the 'promise' of twice as much somewhere else.

Sooner or later Noront's approach will find favour with the analysts who can run the numbers and shout 'undervalued'. Until this we fight the market and wait for news.