Also, if they are able to keep this up, they will probably develop a controlling interest

.......................................................................................................................

Alas, they accomplished that some time after 15 Million Bridge Loan was approved

by Noront AGM as a convertible loan, i believe it was done in March of 2013.

They achieved status as a control person/entity as soon as loan was approved by

Noront shareholders. BAO did not object to that arrangement at the time.

Staying with BAO, they bought into Noront some 10% of cos' shares paying

$ .86 a share. That was increased by 2.5 Million shares when BAO was allowed

to participate in PP by RCF at $.52 in order to maintain their investment at 10%.

So that brought their average cost to $.84 a share.

Back to RCF. Their average is not easy to know as we have no idea at what price

they acquired initial 20 Million shares before breaching 10% treshold. I guess those

purchases were done in November of 2011 as then were large volumes of Noront

shares traded in order to accommodate that kind of purchase. Looking at long term

charts and volume NOT traded that month from low 50 cent to 94 cents.My guess

is that their average was 75 cents, which was then lowered by a large PP @ 52 cents

and ongoing interest payments on loan facility.So again I'm guessing that their

average cost so far is at 60 cents or slightly below.

Eight interest payments so far were done on the basis of average price as high

as 61.74 cents and as low as 18.91 cents.

GLTA longs

Fossil