Noront Resources

I believe RN will have to spin WFL off in order to carry out the higher task of financing DE development long term. The choice will be spin off or sell WFL, possibly with a carried interest, or take a more significant dilution of DE.  We need to keep in mind there are only two choices if a premature sellout of DE is to be avoided.  He will fully advance WFL to create as much value as possible, but at some point, well in advance of needing the $ to take DE to full value, a cash raising deal will be made. The more value he creates at WFL, the more of DE we get to keep.