Let's not start a big argument about commodity pricing because it serves little purpose. Personally I believe there is no question but commodities are off their highs due to both lack of demand as manufacturing slows AND reluctance to pay the kind of price they reached.

Noront has the kind of find which will take time to develop so it's the metal prices 5 years down the road we care about. It's not unrealistic to see them higher than today just because there are fewer and fewer world class mineral bodies coming on stream.

Gold prices however will have an effect on Windfall valuation as it looks like it could be put into production as early as next year.