No! they obviously under paided for the deal given the actual value of the proven mineralization discovered in just part of the Voisy's Bay deposit known during the biding process. Just think of who may have had their ear to the ground and could influence capital markets of the day. The write off was a Tax Matter, something like the usual government contracts in the US for new technology development, except INCO never got Government money, they had to make profits to then have a write off applied to. I am not an accoutant but most accoutants likely knew the score on that matter.

The 2.7 B was not fair value and fair value over the past five years or more prove that out. The Diamondfields shareholders had to go to court after the deal was done to protect their interests as INCO was trying to use them to save themselves from rather lax management over the past many years. The comparisons with respect to infrastructure are not comparable because Voisy's Bay needed little in comparison to what is needed in the James Bay region. But the James Bay region is a government issue and not a Noront Issue. That will even up the score, so to speak, on that matter. As for the political environment matter, so long as governments do not act as they did in Ontario in the 1990's there should not be a problem. Let us hope and not in vain that our current federal government does not follow the advice of their current advisors???? Not that any federal government of the past has been really good on local issues.

In terms of the Discounting of in situ value issue, so long as the world is free to develop as is presently the situation, there is no need to discount in situ value due to future metals value, though there are some who will insist differently.  This is a big part of the point they were making at yesterdays "Ring of Fire" Luncheon.  In other words, the "Life of Mine" or "Mineral Reserves" on hand persently in the ENTIRE world are at a point that there is no discount available. Metals prices have to remain at current levels or increase in value (inflation adjusted) if there is to be sufficient metals reserves to accomodate demand.

As for the comparison to the Voisy's Bay values (in situ or discounted) the point is that metal prices then were depressed due to previously repeating metals price cycles. These cycles have been altered now due to the adoption of economic development policy's and economic models  by past second world and third world countries.  In other words, economic slowdowns in the socalled western world no longer will have much of an effect on metals demand and consequently global demand will remain much stronger than in the past.

As for what Noront Resources Management expects the near term exploration value of metals to be soon uncovered, I believe they are attempting restraint! They want to be remembered as being modest. They are trying to minimize wild speculation in the short term so as to have better than expected or hoped for results. This way there will be continued upward movement in value as they open up this new MINING DISTRICT. They know for the most part what to expect. Thus, they now want to make it a pleasant experience for a long time to come. There is no longer a need to be worried that someone will come in and steal this away from them and in turn from us.

If a steal is attempted it will cost, and cost big time.

With that said, we do have a very good buying opportunity ahead of us. Most especially for those looking for long term security.

Long live long term security! Buying now and holding is better long term security.

In the mean time let us see what the next three days have to offer. If there are any 'shorts' remaining they will have to cover or lose big time. If someone big wants to get in by shaking out weak retail investors they will have to do it on the back ot the Big Market nonsense with respect to credit conditions among and within big financial institutions. If the Warrent holders want to hang onto their Warrents for a week or two longer they will have to do so at my profit.

Old Joe

They are civilized people.