There is one point that I failed to 'highlight' that could prompt a major to 'prime the pump' by buying into Noront early or making major 'preemptive bid' for control.

That is to gain strong position to 'take over' the total, or most of, the ROF. Some, particularly investors in other players, will downplay this factor BUT paying a premium for Noront goes a long way towards total control.

Consider that Noront is the only player who's proved up economic mineralization. Others just have 'hints'. Buy Noront and offer less for other players who turn up mineralization that would only be economic if someone puts in the 'infrastructure'. Good posibilities they could then make a 'take it or leave it' offer to those others.