Smart financial decision for a cashed up by Wyloo.  What do they get...

1) 22.6% of ALL Noront holdings for $11.56 Mil which looks like $.16 or            $.165/share. Current sp is up 20 - 25% a nice quick return of $2 -$3Mil.

2) $15Mil debenture that pays them around 10% int/year in shares which has been       in excess of 10Mil shares/year

"AS a result of this third-party transaction, Wyloo Metals become the CONTROL PERSON of Noront"

3) 1% NR on Eagles Nest

"This investment reflects a long-term and collaborative strategy to support the discovery and development of the next generation of mines required to meet the growing demand of critical materials needed to power the decarbonization of the global economy,” said Giacovazzi

Coutts says...

Coutts said Wyloo appears?? interested in Noront's entire mineral breadbasket, including gold, but "the major focus for them is going to be nickel??."

Though it's still a "feeling out process," Coutts said he doesn't anticipate any changes?? in the mine project timetable pecking order for commercial production.  

In the lead-up to announcing the deal, Coutts said the Wyloo team spent a lot of time with Noront's exploration geologists trying to understand what the Ring of Fire entailed and what the opportunities were.

IMO Wyloo has very little incentive the aggressively move this forward.  They're going to be paid well while waiting.  Although Coutts seems to want to put a spin that Noront initiated this my feeling is this was a deal initiated by RCF with Noront being advised not participatory as they would have had no say in the transaction.  Wyloo may not be operators BUT THEY ARE COMFORTABLE BEING OWNERS.  Contrary to Coutts "feeling out" comment an experienced Wyloo knows exactly what Noront/ROF is.  The good news is that Canada and Australia have a good relationship with similar policies when it comes to mining standards and policies which may make more palatable a political funding decision for governments to assist in getting a mining development in the ROF and a solid Wyloo record of respect for Indigenous peoples.  China based companies would/has been/will be a non-starter. 

Possibly Wyloo will look to consolidate more properties in the ROF. Their very existence as a major player shining a much needed light on the ROF may validate others players to want get in and position themselves as well by takeovers/partnerships of existing ROF companies and therefore increase the value of all holdings.

Am expecting to eventually see a change in the Noront leadership as Wyloo gets 2 seats on the board.  There was understandably the proverbial statement of support by Wyloo.  There's been a lot of deadwood sitters in the ranks for too long.

Initially I see this as a smart financial move by Wyloo.  Whether it leads to something more concrete for the ROF is the Billion $$ question.