I don't think history will repeat itself. Hopefully on the way up, yes, but if it does go back up significantly (which I believe it will over the next three years) it won't see the rollercoaster back down again.

The telling story is to look at a chart showing typical stock price appreciation and depreciation during a period from initial discovery through planning and permitting and construction and startup and then into ongoing production. I believe you will see a very similar pattern for Noront when you do a historical look-back, some five years from now.

The big run-up to $7 related to the discovery of Eagle's Nest. I'm fairly vague on the details, because at that time, I was invested in Spider and KWG and Freewest. I looked at Noront because it was in the same area, but by the time I started to know a bit about the company, the shares were already over $2 and I was scared off.

I unfortunately sold my FWR before things got hot there. I had sold my KWG long before the Cliffs 0.13 offer for SPQ & KWG, but I still held around half a million shares of Spider. At that point, I sold half of them and bought KWG, to manage my odds on what would happen. That turned out to be unlucky, although once the SPQ saga looked certain to be going no further, I sold those at 18.5 and put the money into KWG (which I still hold).

I've been in Noront for less than 2 years, even though it was on my radar for a while. Bought some at just over a dollar on the way down and then decided to sell that at 74 cents or thereabouts. That was a good decision, cutting my loss, since all the shares that I have now were purchased around 22 cents.

I guess that all of this doesn't answer many of your questions, but it's a personal reflection of my journey through the Ring to this point. It may also clarify why:

1. I'm patient, and a few or several more years of waiting doesn't bother me.

2. I have a lot of confidence that eventually, big things will happen.

Others on this board will definitely be able to fill in more of the blanks on the earlier timeline.