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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Message: Annual Meeting .....a friendly reminder to mark it on the calendar.
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IMO you are mostly right. I have just been thru this with HRG and Severstal. In this case the BoD supported the bid from Severstal as most were Severstal puppets. There is a minority shareholder's rights law under the OSC to protect shareholder's who do not want to tender their shares once a company acquires over 50% of the outstanding shares but less than 90%. However, if like ARU 90% of outstanding shares are acquired by the company doing the take over, than the remaining 10% must surrender their shares at the last bid price offered by the company doing the take over.

Glorieux

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