For those who say Noront should use this money for a buy back program, there are conditions that have to be met for the TSX-v and TSX to approve such a buy back program. A company cannot just announce a buy back program. One of those conditions is the money used for the buy back must come from active income ie not the sell of and asset but cash flow from operations. So, even if Noront wanted to put in place such a program, it would be denied by the regulators.

What I like about this is that it delays raising money and gives us a chance to get closer to production, infrastructure announcement, off take agreement etc that would be a catalyst for a higher share price and better financing terms.

For the old guard, this is probably a sad day, but I am happy we had such an asset to raise funds without further dilution.

Slow and steady wins the race and tax selling almost over and Christmas rally around the corner...

Glorieux (aka always the optimist lol)