"Noront, by being first off the mark, is in a potential position to capture a significant percentage of the north american chromite market thereby placing Cliffs chromite strategy in an unsecured position."

If only that could be possible.
I beg to differ, Noront can not be first to market with chromite unless
there is some transportation infrastructure in place and available to use.
Noront is not big enough and can not affort the expense of building road or
rail transportation alone. It needs a partner. Ontario government for the
road and the likes of Cliffs for the rail line.
Untill transportation is in place, or at least assured by a certain date,
Noront is limited in it's progress to any mine construction and as a conseqence in share price.
Jmho.