Part of the problem is the price of nickel has not recovered like the other metals. Voiseys Bay is still on strike. I have worked in the mining industry and strikes happen and are prolonged when there is a surplus of supply. Sherritt has a 4.5 billion nickel mine started in Madagascar and recently announced a JV with Rio Tinto for another in Indonesia. Sherritt is up over 8 bucks and pays a dividend. Both properties will mean Sherritt will be able to produce 60,000t of nickel a year. Meanwhile, we (Noront) are still searching. Time is not our ally with these three projects set to take up extra nickel requirements, Voiseys Bay as soon as prices get to the magic mark and the others are way ahead of any ROF production.
Management, in my opinion have diluted the company to the benefit of a few, wasted tens of millions in misguided exploration, and failed to create liasons with ROF companies to control the chromite resource.
Following is a recent exerpt from Quadra/FNX on their property in Sudbury:

The shallowest drill intersection in Zone 4, located approximately 3,200 feet below surface, is 44 feet grading 1.1% Cu, 1.0% Ni, and 1.2g/t TPM (hole FNX1198B). Approximately 1,000 feet below this intersection the Company intersected 624 feet of 1.9% Cu, 1.7% Ni and 4.1 g/t TPM (hole FNX1186G), while a further 1,500 feet below this, hole FNX1195C intersected 308 feet of 2.1% Cu, 3.1% Ni and 5.1g/t TPM. The deepest intersection to date is at approximately 6,200 feet below surface, and returned 71 feet of 4.1% Cu, 2.0% Ni with an impressive 60.1g/t of TPM's (hole FNX1200)

Three things that are concerning about this press release. For one thing, it is in Sudbury where nickel is king and all the supports are readily available. Secondly, they drilled to 6800 ft( 2000m) and there is no mention of difficulty or cost. Thirdly, the grades of Ni/Cu/PGEs are phenomenal.

I am not promoting another company on this hub. I entitled this post "Timing" because NOT are at great odds at this time in the niche they find themselves. It would seem to me that there is little the BOD could do to impress the market with what is currently happening with nickel production and exploration. It may just be a time to quietly add to your position and hope the recent takers of the PP know what they are up to.