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: Re: 2021-BHP-Take-over-B... & 2021-Noront-Director...

From the Aug 6 Noront Circular (a copy/paste from the July 27 BHP Offer)

"Unanimous Recommendation of the Board. The members of the Board who voted on the matter have, after consultation with the Board's financial and legal advisors and the Special Committee, UNANIMOUSLY DETERMINED that the Offer is in the best interests of the Company and the Shareholders and the Offer Price is fair, from a financial point of view, to the Shareholders and, accordingly, UNANIMOUSLY RECOMMENDED that Shareholders ACCEPT the Offer and DEPOSIT their Common Shares under the Offer."

The wording suggests clearly that at least one Director did not expressed his vote on the question.

Wyloo's rep could obviously not vote Against an offer superior to his. So he didn't show or simply didn't vote. 

Eager to see what Wyloo will do in the coming days... Triple its initial offer to 90 cents? Or just keep his 35% position and try to negociate an exit at some point... Or just manage to cash in, forget the Canadian quest and concentrate on Western Areas and other projects elsewhere...

Some exiting weeks ahead I guess... Or a sudden but deceptive announcement from BHP that they got their 51%... Only us retails have the power to render things harder for BHP.  Would love that we succeed! At the worst, if BHP finally retreats and no other suitors show up,   I'm prepared to wait a few more years for the RoF to explode. And the RoF belongs mostly to Noront! 

GLTA

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