"From my understanding, the negotiations that resulted in this deal took place over several months, during which you can bet your boots that the persons sitting at the table knew exactly where Noront was with relation to the winter's drilling.

Also, from my understanding, there was at least one drill at AT12 and another at some regional location. By April 02, we would have been in the last stages of drilling, and any hits that we were likely to have would be known.

If there was nothing, why would they then decide to move? Why not wait until these results were out and be able to get it at a further discount? Why, after announcing the deal on April 02, did they have to further agree to a break fee in the interim between now and May 02, other than to cover themselves in case something slipped out.

Anyone who has been following this company for as long as I have should know that in every year until now, they have put out notice in some fashion when exploration ceased for the winter. Anything, even as small as a statement that the ice was now too soft to permit safe landing, has sufficed in the past, but this year there is nothing, not one word. Why?"

All this make sense, K. Baosteel entry is certainly not a matter of pure gambling. Sure they had a close look at everything available to their eyes and ears. We all hope from the drill results (esp AT12, where i recall they told they knew specifically where to plant the drill bit, and what they were searching for). If they are to be outstanding, however, it is hard to admit that no leak whatsoever already got out into the market... The market seems to be somewhat frigid about NOT since Bao put their foot on it...

GLTA.

BaBe.

(K: you are 1 month offside in your post, April = May, May = June!)