I'm awake at 4a.m (nuts). I just posted the following on FWR forum. Hope I am making sense, if not please disregard!

Forget about the math and all the logic as to whether this offer is a good offer or deal one way or the other for either Not or FWR. The only thing that we really know is that Noront (BOD) see value in the offer for themselves, naturally. Othewise why make the offer. They have a reason, maybe a vision of how to play out the game to maximize value for Noront. Just possibly and more likely than not they have behind the scene info that would justify them to act now.

Now being privy to offers and negotiation tactics (my real estate background), I know that most people don't make their first offer their best and only offer. Here is where negotiations take place, counter offers second offer whatever you want to call it with both sides trying to make the best deal for themselves. Not too complicated when you think about it.

Now Not's first offer of 4:1 have people on both sides of the equation screaming fowl for every reason under the sun ie: FWR holders say stink bid too low, what about poor Mac, Not BOD are crooks, value this and value that and on the Noront side you have too much dillusion, what has Wes done for us, holding back assays and so on.

Mac Watson is smart, shrewed and well respected. So I have been told (don't know him personally). He is not going to ignore this offer. In his position I would think that he would have to expect this to happen sooner or later. Not a big surprise! Now what he will do is play the game to get the most for himself and FWR and that could be a number of things. He could entertain other suitors, counter Noront's offer or possibly do nothing with the offer for he moment and see if Noront makes revisions on their own. Maybe I'm missing a few options here and it really doesn't matter.

The real point to be observed is that there is business at hand todaythat will change the landscape one way or the other. This is natural, it wasn't meant to stay the same. In doing so I truly believe that all of us who are invested in Not and FWR will be rewarded be todays offer. I hold both.

The offer is a good offer in the fact that it gets the ball rolling. Where it stops nobody knows.

GLTA, Justduke