At the current price of Nickel and cost to put infrastructure into place (cost of money isn't just the outlay but time to recover that outlay). It would be a hard sell indeed to get anywhere close to $3 a share for E1, at this time. Of course that $3 value becomes a lot easier to get when Chromite alone makes infrastructure a slam dunk decision.

There is still a ways to go before any kind of feel for true 'in the ground' value of ROF properties can be established. While economic climate is far from attractive right now at least reasonable assumptions about eventual recover is in sight.

It's been a dreadful year for all markets and those with the guts to invest when logic dictates an overdone situation are on the verge of being called correct.

There have been some excellent guesses made today both low and high. While I believe $4 a share is likely to be a give away price it's sure possible. My feeling is that Noront board wouldn't accept anything less so upside could be a lot more depending upon commodity prices and exploration results.