The answer to your question is , "no."

Noront would not have the money to pay the 15 million dollars ..today.

But,

I'm thinking back to Noront's MD&A last year where this was written.

"THE COMPANY'S STRATEGY IN ORDER TO ACHIEVE ITS PLANNED PRODUCTION DATE IS TO CONTINUE NEGOTIATIONS WITH STAKEHOLDERS CONCERNING THE EAST-WEST ACCESS ROAD TO GARNER NECESSARY FINANCIAL AND NON-FINANCIAL SUPPORT.

DO ALL THINGS NECESSARY TO SUBMIT THE EA BY THE FALL OF 2013 AND OBTAIN ALL REQUIRED MINING PERMITS; AND ENTER INTO FORMAL PARTNERSHIP AGREEMENTS AND FINANCING ARRANGEMENTS IN ADVANCE OF INFRASTRUCTURE COMMITMENTS FROM GOVERNMENT IN ORDER TO ALLOW PROJECT DEVELPMENT TO PROCEED"

My question here is , "who is going to enter into a formal partnership agreement and financing arrangement with Noront?"

If is it not RCF themselves....is this financier/partner going to be ok with the terms of the RCF loan should it not be repaid and convert into a convertible loan??

If it converts to a convertible loan.. after Feb.25 ..it's not an instant here's your 33 million 45 cent shares.

RCF has a WHOLE year to do this and in the meantime...they can collect more shares during the course of 2014 based on this 8% interest.The lower the price in 2014 the more interest shares they get....should the loan convert over.

Ask yourself why would RCF convert the 15 million into 45cent shares right away when they can continue to pick up interest shares for another year?? The only way the gravy train would stop would be a payout in cash prior to FEB 25 from a financier/partner agreement or if someon put the hostile boots to Noront before Dec. 2014.

If Noront has a financing partner already in mind...AND it's not RCF...I can't help but wonder why they wouldn't announce them before Feb.25 ....and pay off this loan.