With the best will in the world (IMO) NRs will not move the stock much in this environment, nor should we expect it - unless a NR comes out really expanding the known resource/s. The reason? Skepticism, and saturation (The law of diminishing returns) People looking to tender FWR shares should so so because of the blue sky potential of the R of F and not be blinded by relative share prices, which in the case of FWR relates to an offer with no blue sky potential with the risk of a drop in SP when CLF earnings come out