From Noront's news release with respect to the failed attempt to take over FWR....

"we welcome those Freewest shareholders who tendered their shares to our Offer. You are joining a company with demonstrated exploration capability. Our focus in the coming months will be directed at increasing shareholder value through continued exploration at Eagle's Nest, the evaluation of other targets within our land package and determining the initial development plan and schedule for the Eagle's Nest - Blackbird Complex."

Ok...so how about some numbers

Noront receives 11,755,108 FWR shares in exchange for 3,358,576 NOT shares and 1,679,288 warrants

Now, since Cliffs wins the deal, NOT gets 236,981 Cliff shares in exchange for their FWR shares (11,755,018 X .02016)

So, the people who tendered their shares to Noront....their shares are worth today $5,037,864 ($3,358,576 X $1,50/share)....granted that's excluding the warrants, which I give close to a nil value as of today

Now, how did Noront fair. Their Cliff shares are now worth $12,323,020 (236,981 shares X $52.00/share)....actually it's a bit more since the $52.00 is in $US...but, what's a few dollars between friends.

I think those numbers are right....feel free to double check for me

That's a nifty little profit....nice work guys. I guess there's more ways to make money then drilling. Who's next?