Baosteel?

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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khareema

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Baosteel?

posted on Feb 01, 2012 12:29PM

It is becoming more unclear as to just what extent rumored discussions would include Baosteel.

I, along with others, appear to have misread the agreement Baosteel has with Noront.

They have an agreement enabling them to increase their holding to 19.9%, but that ability does not 'BEGIN' until May 2, 2012, rather than expire at that time. The importance of this could be that rumored secretive discussions behind closed doors do not include Baosteel, but rather are designed to produce results before Baosteel's rights come into the picture.

At any rate, these rumored discussions seem to be more and more definate, as there is not one source, good or bad, that has denied them, and some even giving snidbits of what is being discussed, with the week of Feb 13 having some significance.

Add into the mix the absolute silence coming out of Noront, and we have a very intriguing situation, which I have a very hard time attaching any negativity to. If there are delicate negotiations going on, these negotiations will be between Noront and other parties. If the silence is required, it is to enhance Noront's position during negotiations. If Noront's position is enhanced, we as shareholders will benefit.