Crazytrade,

Sirius Resources was taken out by Independence Group for 1.8 billion dollars in 2015

http://www.abc.net.au/news/2015-09-03/shareholders-vote-for-sirius-takeover-by-independence-group/6747934

Noront's Corporate presentation compared Sirius to the Eagles nest ONLY.

Not to the Ring of Fire.

under your 1.10 per share theory, this suggests that an acceptable buyout would be a value of less than 25% of what was given to Sirius for their eagles nest comparable deposit.

And the nickel price is higher now than during the Sirius buyout.

This 1.10 suggestion also implies the chromium has no value.

The gov't will not spend billions on a project only to allow foreign hands to take it over for a small fraction of it's worth.

The ROF has national significance. 

BHP Billiton tried to take over Sask's Potash but that takeover was blocked.

We currently see China's CCC trying to buyout Aecon. That sale is being reviewed by the feds for cost -benefit.

How can spending billions of dollars of taxpayer money be spent only to hand a strategic asset 

over to foreign interests for nothing.

Not going to happen.

What is am wondering about is the offer to Matawa a while back for 10% of the company.

Glenn Nolan said something to that effect.

At the end of June, the 15 million dollar bridge loan can be turned into  34 cent shares.

This is roughly 10% of the company.

What I see as a possibility, is these shares being given to Matawa for 34 cents per share. The gov't funding the buy.

This was similarly done with some Hydro One shares during the Hydro one 40%  sell off.

http://www.cbc.ca/news/indigenous/ontario-first-nations-hydro-one-shares-1.4473126