My take on Noront's announcement:
"Bulls Eye" target. Based on the visual results, Noront will not be contributing further exploration funds for this target."
Noront is playing their "back out of the drilling agreement" card. Noront figures that this will delay any exploration on that bulls eye until after the hostile takeover vote, and at the very least will cast doubt on the future assay returned. Noront doesn't want anything discovered here that would increase Freewest's value even more.
It will be interesting to see what Freewest's visual take is on this core. With Freewest being the operator, Noront is clearly out of line in announcing any visuals before Freewest. My recommendation to Freewest: If they still like this prospect and think the Noront announcement is nothing more then BS posturing: Offer Noront $50,000 to buy out their interest in the Bulls Eye JV tomorrow.
The other alternative is to continue drilling on their own even though Noront will still share 50% on Freewest's further expense.
The way this preemptive Noront announcement came out just looks like another despicable move by Noront to me. I really don't have much further desire to be involved with Noront and I am now seriously considering unloading the Noront stock I do still own.
Of course it is also quite possible that fwr may be in total agreement that this core is not promising.
