While there may not be a Noront/FNC jv I would not be 100% convinced. Noront co-operated with FNC for the aerial and now ground geophysical surveys (Peter told me this verbally), the ground surveys including gravity and other methods Peter indicated would be done shortly and aerial stuff should be in his hands as well. He indicate a news release would be made when all this was reviewed.

OK now why couldn't Noront and FNC review over these reports and hammer out a fair financial package on a jv.  Drilling to prove up a resource is expensive and not just a matter of drilling one or two holes, FNC does not in my opinion have the kind of money to do what Noront could do for them.