I didn't expect too many to agree with my views to start with, however, if you read again and take notice that I believe both Cliffs and Noront are going to work together to see that this orebody is going to get developed. Cliffs is a significant force already. If they want this, they have to up their bid and by a lot more than the 4 cents on their first try. That might come. I do not rule it out, but I do not expect it either.

Both companies stand to make a lot of money here, and working together just makes it easier. Cliffs will own Noront shares by tendering. It will not come until later but they will ( if they choose ) own Noront due to their about 12% of FWR. Somebody else worked that out and I except it as approximate.

Now QQ girl pm'd me and pointed out a flaw in my argument. It was due to some details with the Cliffs meeting in Jan. It reduces the risk to the group who may wish to not tender to anyone but keep their shares in FWR. But it didn't effect my overall views.

After reading the excellent analysis that Glorieux has put forth on the warrants, I'm even more sure the group wishing to hold will grow much smaller. Anyone who believes that Noront will not reach $5, or even $10 with or without FWR has a problem. With FWR it isn't much of a stretch for it to go higher. Cliffs isn't going to pass this up either. What you do is up to you.

This keep it Canadian stuff doesn't fly too well with me either. I'm a proud Canadian, happy the resource is in Canada, and it isn't going anywhere until it is bought and benefits Canadians. The ownership might be bought out to the highest bidder but it will always be subject to Canadian laws. Just show me the money. The jobs stay here.

The Noront offer ends this coming Friday, unless it gets exrended. Someone suggested it takes two days to process. Assuming this is true, and JJ has said to Googleye there are pr's ( plural ) coming, It means at least two. Wednesday is the day minds should be made up, that leaves Monday, or Tuesday for the best effect. It is going to be interesting.