Post exchange with Hoov today on NOT side

SG -Does Baosteel need to wait 2 years to offer a hostile takeover to shareholders?-sg

HOOV - This is the line in the press release that I interpreted that way: "The Offering provides Baosteel with the right to nominate one individual to the Noront Board of Directors, a right to increase their ownership in Noront to 19.9% for a one year period commencing on April 18, 2012 and a standstill provision which expires on April 18, 2013." -Lar

SG - But Baosteel needn't operate through a direct ownership to overcome the 2 year limitation. Mineralfields is an alternative. Cliffs could have a long-term agreement with Baosteel. A Baosteel friendly could operate under "Anonymous" to buy percentage. Certainly, Baosteel could go for other territories with chromite during the 2 years. FNC, PRB. If they wanted land mass, then second to Noront is UC. If Cliffs is competing with Baosteel as we all hope, then Cliffs needn't wait 2 years to consolidate the area they've committed 1.8 billion to. Does anyone think they will be happily content with the ex-FWR and SPQ territories for the next 50 to 100 years while Baosteel takes possession of the majority of land surrounding them, blocking off expansion, access points, and mostly transport and power competition? -sg

Coversation with Deb yesterday

DEB- It would be very difficult for anyone to develop Eagle-nest without Fancamp, provided that we show we have nickel on our side –which I’m pretty sure it is, it’s just a matter of hitting it. Hopefully we can hit something pretty soon. That would be a game changer.

SG-That would lift us up to 3 or 4 bucks.

DEB- Yes. Exactly.

SG-I don’t sweat the market fluctuations, because we know we’ve got the big stuff coming up.

DEB-Markets will always go up and down. But we’ve got a lot of good solid properties and programs behind it.The Market at some point is going to recognize that and adjust to the value.

New Ripple of Info on Magpie PP

My comment is that the market will recognize FNC value sooner than later. This is why: one ripple echoed my hope: it may be that the tail end of the Magpie PP didn’t close because one group introduced to Fancamp through Magpie elected to invest in Fancamp directly instead of Magpie solely. This is the reason it’s taken more time than originally thought to release PP close NR. Well based on all the posts I’ve been writing, I don’t blame them.FNC may produce two IPO’s before years end and certainly will provide multiples before Magpie IPO occurs.

If this ripple is accurate, one of two things has happened or will happen. 1) our SP is purposely decreased so acquisition can increase. 2) at a certain point shares won’t be available at the low SP. They will push demand over supply until SP is high enough for some to sell off profits. This will cause more volume and allow them more acquisition until they have their fill.They are also aware that there is a small window of time between now and when Smith releases new info to increase the SP. Then if they haven’t obtained all they want, they’ll have to buy less for more.

My vote, the sooner Smith releases substantive info, the better he helps we retail shareholders.

-StockGreed