Well you've got my interest since IF equivalent figures held true then a motivated major could stump up the equivalent of $3 a share for 25% of Noront. OK yes this is light perhaps since Nickel has been proved up and is worth a tidy sum on it's own.
Of course tonnage/grade not yet proven up for the BlackBirds as it was at Voisey but a lot closer than we might think.
So if Dick and the boys at Noront were interested in taking a low but fast deal (which you just know they are not) something like, assuming 50 million tonnes of high grade chromite, $3 a share for 25% and then $10 a share for balance, OK plus $3 extra for nickel. Total $16/share
Yes you can jump on me for putting out such a low number which doesn't account for huge ROF claim base or potential to find more nickel and more chromite that used for numbers. BUT doesn't it make you feel a bit more comfortable when share price is sub $2 to reflect on a conservative valuation of $16 down the road? Maybe not that far down the road?