" He has a lot of very good targets that have not been drilled."

"This pretty much says it all for most play in the ROF except perhaps FWR"

You make some good points Bishop but you are discounting the effect that ZTEM is now having on everyone in the RoF.

Until recently everyone had to rely on old technology such as VTEM to do their exploration work. As a result a lot of targets were undetected. Even the new lenses ( now continuances) at E1 we unseen until ZTEM was used.

Most exploratiojn work in the past was focused on relatively shallow targets. NOw ZTEM is allowing geologits to see what is at depth...up to 2 kms.

Now other juniors have flown ZTEM and low and behold ...look what we have here.

So we are now seeing companies like UC and Tribute starting to drill based on much better data.

"most companies have been quite content to just sit back and do nothing while their SP rises on Noronts exploration activities."

I think the inactivity has mostly been due to lack of funding because of the recession and lack of data (with the possible exception of FNC).

Don't get me wrong I am a shareholder of NOT as well and give them credit for doing what they have done. Imagine how much $$$ they would have for drilling if they had raised $$$ at $5-$7 some time ago.

I just get the sense that you and others are very quick to award the crown to NOT before the race has really begun. On the bassis of probabilities there are many combinations and permutations of events that can occur and soon that will effect the final outcome, whenever that may be.

Personally I see this offer by NOT as a very well thought out plan and very timely for NOT. There is a very real risk that others will prove up reserves that will render them more valuable in the near term. So NOT wants to acquire and consolidate (not just FWR) before that happens. If they don't, someone else may take the lead and soon.

SN