This is not really an OT question but it's not something terribly releavant since we're no where close to over valuation by the Market. Time to get worried is when the Market puts a price on shares far to high to be sustained by underlying value, including speculative value.
Right now perhaps we're seeing a base valuation for Noront of around $2.30 . That is low for an exploration company cashed up with, after flow thru, well over $25 Million AND an initial 43-101 on E1 nickel with two new 'lenses' being drill defined. Chromite 43-101 likely not far away either.
One step out hit to assure the market that the 'b' and 'c' lenses are 'the real thing' and current market valuation and base changes tremendously.
My take is that $2.30 doesn't fully factor in the speculative value of Noront. $2.80 maybe and with any kind of confirmation of lenses next base level of support $3+ with run to $4 not unlikely. Getting into the $5 range going to be a bit tougher but Noront has the money to provide, with a bit of luck, the kind of exploration results to do so and then it's a new ball game and speculating on how high the price can be driven now impossible, at this time.
Price just went up for any Major wanting to buy in a position because Noront doesn't need the extra cash and can dicker from strength.
