Fossil,

My thoughts are that this $150K is just a deposit since the "sale" hasn't closed yet. I am thinking this because of Noront's NR on May 23, 2014.

They mention "subject to certain conditions ...and ..is expected to close during the 3rd quarter of 2014..which is coming up next month.

Casablanca has been successful in their proxy war and on their agenda was the sale of the Cliffs Rof Claims. I think this "subject to certain conditions" has something to with what happens to the Cliff Rof claims.

TORONTO, ONTARIO--(Marketwired - May 23, 2014) - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) has entered into an agreement with Cliffs Chromite Ontario Inc. ("Cliffs") to acquire its exploration camp at McFaulds Lake. The transaction, which is subject to certain conditions, is expected to close during the third quarter of 2014. Cliffs' exploration camp is located adjacent to Noront's existing Esker Camp, and will be used as a construction base for the development of its Eagle's Nest mine.

Noront also received approval of a Mining Lease application the Company made for its Eagle's Nest and Blackbird chromite deposits. The lease covers 4,100 hectares in the Ring of Fire and gives Noront the right to extract mineral products for a period of 21 years subject to certain requirements of the Mining Act.

Noront Resources Ltd. is focused on development of the high-grade Eagle's Nest nickel, copper, platinum and palladium deposit and the high-grade Blackbird chromite deposit, both of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com