Here are a few facts...correct me if I am wrong:
1) Noront controls about 85% of all the claims in the ROF
2) Probe has 100% interest in some claim blocks, which have about 8 million tons measured and indicated (black creek chromite)
3) KWG has a 50% interest (in partnership with Bold); black horse deposit; about 89 million tons indicated (chrome); and about 1/3 interest in Big Daddy deposit (NOT controls the other 2/3)
So....just throwing this out there
What would stop a large corp...like a Vale or Glencore or a BHP...from making a move on Probe or KWG/Bold/FNC...to be the first to open a chrome mine. Even Probe, with the limited drilling, is likely to have in excess of 10 million tons...so at 1 million tons a year...they would have 10 years mine life...and likely more.
The other thing, is that I can't see the government making a move that is perceived to benefit one over the other. Remember how excited the provincial government got when Cliffs entered the picture. That is when they put the $1 billion on the table. Now, with no big player in the picture; and with NOT having a market cap of only about $100 million...not as much excitement from the government. Let's face it; how is Noront to finance $600 million plus to even build a mine.
So...my point is this....
Noront needs to make a move for Probe and the KWG/BOLD/FNC properties...to at least derisk another company beating them to the punch on opening the first chromite mine. Keep in mind; current demand is only about 1-2 million tons a year...so there are options.
The other thing...which I believe has yet to be settled....is the surface rights on the N/S route...where KWG was fighting Cliffs in court...yet to be settled and now NOT's issue. More and more; without a firm agreement from those on the E/W route, perhaps even the nickel comes out throught the N/S route....or maybe they build a chrome mine first
Bottom line...more consolidation is needed before someone else moves in on the action. Unfortunately, with a low share price...the dilution is a huge problem.
RCF may be benefiting greatly with their interest shares, but they are also making NOT vulnerable to having a big player move in on some of the other large chrome deposits....and that would be very costly to Noront...and RCF
Disclosure: I own lots of FNC...quite a few NOT....and a little KWG and Bold and Probe