posted on
Oct 15, 2010 09:08PM
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)

Message: Re: BOD
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Lethalgal a word of caution,today I was pillarized and told that "negativity about this BOD was like shooting ourselves in the foot" and that I should sell and leave and wouldn't be missed.
A lot of posters do not understand why we do not trust this BOD. and where not here from the start.
For them a brief history lesson;
The original president was a Mr. R.Nemis who thought to expand the board by bringing in new blood... enter Parisotto.Mr. Parisotto started a "coup" which ended in a proxy battle for the ownership of Noront.
Mr.Nemis ended up winning the proxy battle but comprimised by having the BOD divided into to two factions (1/2 Parisotto group and the other 1/2 Nemis supporters) with Mr.Nemis later stepping down as "President Emeritus" Over a few months the "coup" was completed and that is why we have the BOD we have now.
As the newBOD filled it's ranks (and pockets) with "Qualified people that were not elected things began to happen...
First a HOSTILE bid take over of Freewest that still rankles in a lot of older Noront shareholders by the way it was done...
A long weekend (I believe it was Labour Day) Noront calls Freewest for an emergency meeting on a Friday Afternoon ,as you can realise Bay Street offices are empty as everyone goes to "cottage country" or has other family resposibilities.Everyone except the NOT BOD.
Freewest tells the Noront BOD they will meet on the Next Tuesday when they have everyone back...inthe meantime the NOT BOD gets all it's "bean counters" working the long weekend a puts together their "take it or leave it bid"...come that fateful Tuesday they make their offer and it was completely turned down.
Noront then went public and "sweetened the pot" and even had a introduction party for all Freewest shareholders trying to entice them to trade their Freewest shares for Noront shares....in the long run Freewest was taken over Cliffs.
I am sorry but now I must regress initially Noront had holdings in Quebec, Ontario, New Brunswick, Mexico and China... we do not here anything about them any more.. either this BOD has sold them or "mothballed" them??? We also had a gold mine with ramp and all, but again we do not hear about what happened to it??? (not JJJ )
This past August (9th) we traded land with Probe ,we traded three proven mineral deposits for unproven land ..I call them "moose pastures" as they have not proven any worth as yet.
Now everyone wonders why Probe shares have almost doubled since August...why???
We have many members who are disenchanted with this BOD and an equal amount who do not know the what this BOD has done in the past..isn't it little wonder the news reports receive little respect from the public and the institutions ....all you hear from members on this forum is do your due diligence ...well I think they, the public have... and find this BOD wanting.
It isn't the people on this forum that is keeping our share price down, least of all the shareholders who "complain" and shoot ourselves in the foot.
I have three words for this board ...honesty, commitment and transparancy
As you can see I used my real name in all my enteries, I have no hidden agenda, and I am commited to the well being of Noront
Dennis
DPITW
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