Is WSR the best of the JV's?!

Note three things about WSR from the data below:
1. She was the first to be granted / negotiate an option.
2. She has to spend the most (5 mil over 3 years)
3. Her location is not clearly specified like the other three.

One conclusion might be -

She has the best land package because: she had to pay more (you pay for what you get),

she got first pick,

 the land package is not identified (maybe they don't want to advertise the location just yet!)

She has also been SLOWLY rising the last couple of days.

What do you think?

BK

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This is taken from Donypee's excellent link
http://norontresources.com/investor/noront/Presentation-Jan2008.pdf

Noront’s Ring of Fire Joint Ventures
Area of Interest Exploration Program Payment to Noront

Hawk
- Option to acquire 50% interest in
10 claims (6,430 acres)
- Land is located approximately 28 km
north east of Eagle One discovery
- $3.5 million expenditure over a three
year period
- $1 million to be spent in the first year
- Upfront payment to Noront of 400,000
common shares subject to all required
approvals
- $400,000 within two years ($200,000
paid in the first year) or which may be
paid in common shares subject to all
regulatory approvals

Seinfield
- Option to acquire 50% interest in
6 claims (3,840 acres)
- Land is located approximately 60 km
north of Eagle One discovery
- $2.1 million expenditure over a three
year period
- $600,000 to be spent in the first year
- Upfront payment to Noront of $120,000
cash or 342,857 common shares
subject to all required approvals
- $240,000 within two years ($120,000
paid in the first year) or which may be
paid in common shares subject to all
regulatory approvals

Southhampton
- Option to acquire 50% interest in
12 claims (6,720 acres)
-Land is located 25 km north-east of
Eagle One discovery
- $3.5 million expenditure over a three
year period
-$1 million to be spent in the first year
- Upfront payment to Noront of $200,000
cash or 266,667 common shares
subject to all required approvals
$400,000 within two years ($200,000
paid in the first year) or which may be
paid in common shares subject to all
regulatory approvals

WSR
-Option to acquire 50% interest in
-15 claims (9,600 acres)
-$5 million expenditure over a three year
period
-$1.5 million to be spent in the first year
-Upfront payment to Noront of 400,000
common shares subject to all required
approvals
- $400,000 within two years ($200,000
paid in the first year) or which may be
paid in common shares subject to all