Re: Work it UP

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Canseco

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Re: Work it UP

posted on Feb 05, 2008 06:20PM

Good post D12.......well thought out.

I think there is a very good chance you are right.

Also, it is interesting to note that "J. P. Morgan Securities Inc. acted as financial advisor for Noront on this transaction." In theory, JPM should have their finger on the pulse of the financial world, and may have provided Noront with some insight into the value of this PP, considering market conditions.

I forgot to mention something else from my conversation with Mr. Graham. I asked him if Noront had considered a rights offering to existing shareholders. He said they had considered this, but apparently there is quite a complex process to complete a rights offering, so they did not persue that route this time.