I arrive at minimum $4.6134 price per share for nickel alone.

These are my calculations to estimate noront's minimum SP. Please correct if this is off.

take 15 million tons

multiply by 2000 to find pounds

= $30, 000, 000, 000 (30 bil)

times average 2% nickel.

x.02 = $600,000,000

multiply by 7.52/per pound nickel (kitko) (this is twice Voiseys price).

= $ 4,512,000,000

some Mining books advise to take 1/2 for production, so divide by 2

=$2,256,000,000

one of you suggested that producers want 3 times assured profit, so divide by 3

= $752,000,000

then divide by Noront outstanding shares, so divide by 163,000,000

= $4.6134 price per share for nickel alone

this is before any other ore, PGE, chromite, etc...

2.00 per share, yes, I'm buying. Even if you assumed Noront had 13 mil tons that comes to $3.9983 per share.

-sg

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