All roads lead to Rome?

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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Hobbit

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All roads lead to Rome?

posted on Sep 06, 2021 05:28PM

Interesting theory @Jockfish, I fear you may be right.

I've been struggling to figure out how Wyloo's "New Noront" would work. They, have said repeatedly that existing shareholders could "come along for the ride", but that would include the current BOD, BHP and BaoSteel (aggregate ~20% of outstanding shares). Considering the value of the ROF, if BHP wanted to, couldn't they persuade the others to band together and turn the tables on Wyloo and attempt to (regain) control? How would Wyloo prevent it?

It seems to me the only way Wyloo can kick out the BOD and BHP is to take complete control of Noront and dissolve the company. Simlarly, the only way BHP can kick out Wyloo is to take complete control. Either way, retail gets the shaft, but unfortunately not the kind we want.

While I like the idea of going along for the ride, I fear all roads lead to Rome, and there isn't one that will take me to the ROF.