I agree with your thinking.

To split now is the right time as let's face it, at the current share price of $1.29 (can it really be that low?), a split down the middle is about 65 cents.

Noront could be divided into two companies. For sake of example, let's use the terms ROF and WIN.

Each shareholder in not (of which there are 134 M or so shares fully diluted would receive a new share in both companies. They price listed could be .65 cents for each. Assuming that all things remain equal to today price, The ROF company would like rise to 90 cents and the WIN company would fall to 39 cents. This is the value of Noront before the ROF broke.

Now, let's look at this realistically. Given that a 10M dollar ramp is nearing completion and they will start to be processing the gold, it is unlikely they will need to raise more money at a burn rate of 1M per month. That is because 8 million could transfer from NOT to WIN. The remaining 30 million in the treasury could be assigned to ROF in which case they have ten months to find a suitor.

Let's face it folks. ROF would need a lot more money that what WIN could produce (if they remain combined) to move to a profitable mining status. I believe a big player will get involved once the chrome is proven out and some of the other anomolies.

The benefit to us is that we benefit when either company strikes another "hit" and have 1/2 the risk should one of these two fail.

I do not believe Richard wants to sell Windfall given his involvement with the property since the 90s. When you dedicate so much time to something, it is hard to let it go. Especially when the property is just reaching its potential. The ROF has a long way to go but they have only owned that property for a year and five months so it is still fairly new.

If you take a look at the new CFO's credentials, you will see that he comes from an excellent investment background. My guess is that they brought him in to do more than count the number of shares being held and to cut a financial statement every three months. Look at the amount of consultants and lawyers on the payroll and you will see that more than just drilling is going on here.

26 more sleeps till the AGM. I wish I could be there but hopefully they will web cast it this year.

M1.