You are forgetting one important factor. Mr. Dick Nemis owns/controls a large number of shares so he will see that shareholders (himself being one) obtain maximum value from spin off of Windfall.

Selling Windfall would not bring in the kind of money it is potentially worth because a 43-101 outlining resources is not done and likely can't be done for some time.

I could even see Dick stepping down from Noront to take over the spun off company as President. Up to him but nice option to slow down and do what he does best.