Re: Standstill Agreement

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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vermillion

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Re: Standstill Agreement

in response to

Re: Standstill Agreement

ANL

posted on May 03, 2013 01:50PM

Baosteel I think had a 90 day period to examine any buyout offer made to Noront. They are in for 9.9% at 0.86 plus 1/2 warrant and the right to exercise to 14.4% within 2 years at a price of 1.16.....they also participated at 0.52 when RCF made their bridge loan. Baosteel back then wanted protection in case of a buyout offer. That is how I read it. Have I missed something. It hasn't gone exactly as Baosteel wanted to the naked eye. Deadline date is over.