You are right and reply explains position better. Noront is after all the only Company with proven ore body of interest to the majors. Now it's proving up grade and quantity as well as locating other 'pods' or extentions to DE 1 .

Darn hard to put a dollar value on specualtive portion of Noront's share value. Windfall is shaping up but would never match the value of DE.

Lots of theories and work done on guessed size and grade of DE and Windfall to put a market value of $4 to $5 on Noront shares. *Given what we know at this time. With the number of shares outstanding (and options available) it's likely $4 is upper value BUT speculative value should tack on $2 because Noront has just started to drill and fine tune exploration. Chances of them coming up with more is higher than any other player in the area. As more is found and more drill results come out the speculative value should increase along with the intrinsic value of mineralization found.