The next question then becomes if not in shares, where will Noront get the $$ to pay the break up fee. And what happens to the deal if they can't. Wyloo has tied this to Noront pre "new" Noront. 

Have to say it was surprising that the fee wasn't required to be paid by Wyloo as part of the negotiated terms by the BOD .  They could have made it mandatory for their support of Wyloo bid.  The fee equals approximately $.33/share (approx $18 mil fee divided by 540 mil shares) which arguably puts the present day value of Wyloo offer at $.77/share not $1.10.

In addition to the interest at 5% qrtly either by shares or by cash the entire loan is is due in 12 months.  Noront, or even the "new" Noront,  doesn't have 2 pennies to rub together and no prospects for generating any profit in the forseeable future. Will Wyloo renew the loan or, seeing as they will be Noront at that time, issue shares to cover it.  

Haven't see any clarification on these issue in what has been provided.  Nor has Wyloo given any clarity on their plans/path forward. The recent challenge by FNs to the governments plan to do a "whole area" analysis is starting to look like a major (another) roadblock in moving forward any time soon. Wyloo can't simply come in and start doing much of anything until the 2 governments and FNs agree on the REAL path forward and will probably not be allocating any substantial funds into the ROF.  Although Cliffs pulled out more because of their worldwide financial problems, this is starting to look like a repeat.  

My initial thought was, after voting for the Wyloo offer, to choose the share retention after the March 14th retention % announcement and after the 15th shareholder meeting(caveat - keeping my finger on the sell button should the Wyloo offer be voted down). Being unclear as yet if shares will be halted and, if so or not, when these "new" shares would be tradeable/accessible, am leaning to reduce my allocation to retention to 10% and take the $1.10 for remining 90%.  Perhaps Wyloo will provide more clarity on their plans between the end of the meeting and the retention selection expiry date that might change my mind.  If not it leaves the option of buying back in, yes perhaps at a higher sp, but am not convinced that the path to riches in the ROF is all that close.  I keep in mind that BHP said they could not financially justify paying the $1.10 sp and no other major raw material company even wanted to get involved during the lower bids.

Been in the ROF with Noront, Freewest, Spider and KWG for a long time as many others here have been. It's great that Noront sp has hit the $1.10 mark as it rewards some here and hopefully lessens the financial loss for others.  But other than that in my mind what has changed since Cliffs threw up its hands and left some 7 years ago.  No agreements, no roads, no mine, no funding. It's still going to be a long winding road.

Good luck to all.