Hi Sum,

I entirely agree with you that Noront is worth well North of $2. Just the Chromite alone is worth more than $2 (especialy to Cliffs) not to mention Eagles Nest and the vast potential of the unexplored property.

We could very well have our annual early Fall run up this year.

Or if Noront (and Europe lol) survive for another year, we will see Noronts SP where it should be and many of the long time holders can see green on their screen.

Personally I would not tender my shares for $2.

Here are some of my thoughts on a takeout.

I believe that the current manipulators will wait until things are firmed up with the government but most importantly the FN's. In the meantime they use the uncertainty and dismal volume to beat down the stock price with timely sells and stacked bids.

Noront has done a briliant and sincere job to work with and include the FN's. If a big player comes in and takes out Noront then it could jeopardize the relationship of trust that has been built.

The big companies will wait until agreements are signed between the FN's, Noront and the goverment, before making their move.

Cliff's will be privy to the progress between the government, the FN's and the miners and will have the advantage of knowing when things are finalized. They can time their takeout before it is public knowledge about the agreements.

That's not to say that once on offer is made, another larger suitor (Bao, Xstrat, Vale, etc) comes to the table with a better offer as at that time they too may know of the agreements between parties.

Those are just some thoughts about how things may unfold.

Personally I hope for a more organic route to $2+ but right now Noront looks like a prime rib dinner at The Keg for $5 which is hard to resist.