Pilgrim, the problem with Cliff's raising their offer right now means that they are beating their own offer of 0.90$ since NOT has not raised their offer since then. This would be a little embarrasing for them but maybe not as much as losing out to a junior. Time will tell what they do. However, raising their price will be a big admission that they under estimated the Noront BoD and their consultants. They will also have to get this approved by their shareholders who quashed their aspirations in the Alpha deal. I am not sure if they want egg on their face again from their shareholders.

The bottom line remains that either you want to stay invested in the RoF-with the Rhodium numbers tonite and especially those huge platinum numbers, I think the type of investors that are in FWR will want to see their money keep growing in the RoF.

Even if Cliff's raises their offer to $1.35, for the shareholders of a junior who love the rush of junior and the potential of the RoF, this is still cashing in their chips. I am not sure how many retail investors wish to do this. Obviously the institutions want no part of the Cliff's offer and I do not blame them.

Glorieux