"BUT if we run up fast to $4.75 tomorrow then we'll see a sell off on the news instead of deserved increase in price. Always seems to happen if news comes after a good run up.

Al on McFaulds Lake forum did another look at value per tonne of Noront including guess at Rhodium value. Even using a 10% in situ valuation it indicates a fair share price well over $4 and that's pretty conservative. 10% might be all the market will value Noront for but you can be certain that when a sale is made to a major that sale will be made at better than 20% of metal value per ton. "

If indeed the SP should be above $4 and news hits when we are above $4, then one should assume that the SP is in for a hike, as all stocks are simply in recovery mode, not run-up mode.  A selloff, yes, but likely after it has appreciated considerably above the $4+ mark.