While I agree with you that it would be great for Noront, I don't see it happening for a couple of reasons. One, I am not sure if private money from the Middle East would look to spend their cash on this property as of yet, with so many unknowns.
Also, Mick Davis and the others below him are on their way out of one of the largest mining companies in the world. With some of the recent changes in CEO's recently in other large companies, I am betting he would want something a little bigger at this time, if he wants anything at all.
While I do so Mr. Pearce and the others following Mick Davis in a new venture, I don't think there would be room for all of them within Noront at this stage. And even though those people have been well off and doing well for quite sometime, people typically don't leave a job like the head of Xstrata Nickel without having something a little more concrete in place.
However, I do like the thinking and would be pleasantly surprised if it did happen!