Although there has been much consolidation in the ROF, there still remains a few holdouts.  When it comes to mining the chrome, Noront isn't the only player in town.  Probe holds 100% of some claims and KWG, together with Bold and FNC control some other claims, along with KWG's 33% interest in some deposits controlled by Noront.  Any of these other players could strike a deal with the FN with the support of a big player looking to get into the area.   Goldcorp is already invested in Probe and could back them to be the first Chrome producer in the area.  KWG has offered equal partnership to the FN and has certain surface rights over the N/S route....so we can't count them out yet either.

I'm not so sure there is enough demand for two producers there...so this may require further consolidation. 

Having said that, Noront, at these prices, is not in any position to make a move on any of the potential rivals in the area.  Noront may be in the lead, but it hasn't won yet.