you pointed out this paragraph:

This was a surprise for the market, as Noront had not been guiding that it had completed a scoping level study. We give management full marks for conducting this study, but why not indicate that it was underway and a key milestone?

This kind of comment in a price report is highly unusual and shows tremendous bias. This is the second time they've mentioned being left out of the loop, so they are angry about this and/or simply repeating the counter proxy argument. Either way, this is very unprofessional.

BK