The big problem with this Wyloo potential offer is current and long time shareholders don't get to share in the tremendous upside potential and neither do the FN's as Wyloo is a foreign private entity.
The ROF area has been compared to the oil sands with generations of mining opportunities.
Just the one nickel deposit is being touted as the highest grade nickel deposit since voisey bay, which was bought out for over $3 Billion, when nickel prices were at about $3.00.
We hear a lot about the need for nickel and copper to power the EV batteries. Chrome is on a list of critical metels. There is a shortage of Palladium with continued high prices.
Noront holds many other claims with high potential for additional reserves of chrome, nickel, copper, zinc, titanium, gold and other precious metals. There has been little drilling in the last 10 years due to uncertainty about access and government funding, along with prolonged depressed metal prices. But, the metal prices have recovered significantly over the past year.
Noront holds claims once owned by Cliffs, which cost them $270 million (Freewest) and $125 million (SPQ).
Top level jobs and head offices may go offshore. Canadians overall would benefit less from potential tax dollars.
Wyloo claims net zero emisions, and the current Noront could do the same.
It's very unfortunate that we have not heard from the government or the FN's yet. Noront and the current shareholds need our First Nation's partners and government behind us and not let this amazing resource slip away to a foreign power for peanuts.