True Zooloo:

"NOT doesn't have to offer as much because FWR holders would still benefit from FWR's assets even though those assets would be in NOT."

But what is also as pertinent is that a tenderer of FWR also will benefit from present NOT holds of all those metals, nickel in particular. Many posters forget to mention the benefit from Noront's resource when they mention the continued benefit to FWR shareholders from their resource.

The cup becomes more than half full. I would say it is even more than full.