Yes, you are missing the fact that until a resource estimate is issued the market does not believe DE 1 has 7 million tonnes of ore with value of $800 per tonne. Also remember resource calculations do not use current metal values but considerably lower value based on their estimate of metal prices over a number of years.

No doubt 10% of resource will turn out to be very low percentage to use but until tonnage and value can be projected and backed up by drill holes and calculations it's what we and the market have to go on.

At present we have some analyst guessing at DE 1 containing under 5 million tonnes. That's why Noront is racing to put out preliminary estimate of tonnage and grade which will support share price and basis for moving forward as more of the deposit is outlined.

I'm not saying the picture won't change or that Noront isn't likely to prove up more and more but at this time it's not proved nor inferred.

Comparing DE 1 to Voisey Bay is again at this time an awful stretch since Voisey Bay was a very large deposit while current evidence indicates DE 1 is much smaller. That can of course change with more drilling but at the moment we don't know and neither does Noront Management.