Jean

It would seem that 7-10 should be a low estimate of what Noront is really worth.....it was explained to me by Babak1 that Noront has to be worth at least as much as the money that will be invested by gov't and private sector combined.

The province has already invested in internet almost the current market cap of Noront.....say 100mil for ease (already this starts to look ridiculous).

The province will put up 1 billion for the road.

Say the mine into Eagle's nest runs 500mil.

Say the rail into the ring adds 1.5billion.

Say the needed power transmission adds another 1 billion.

Already we are at 4-5 billion without what Cliffs invested or Noront has spent over the last decade and I am sure I am missing a billion or two?

For simplicity lets say 5 billion total....

The outstanding shares of Noront are about 340 million.

This comes to about $15 per share.....

One would expect the company must be worth more than all the parts or why bother?

What is the multiple needed to invest 5 billion? 

Is is 2=$30 per share, is it 3=$45 per share, is it 4=$60 per share?

Even at at multiple of 1 we are looking at a 50 bagger.......

My money is on Babjak1's math.

GLTA

Ringer