From Ringer's last post:

“In April this year, we were deeply concerned when the Noront board proposed to farm out Noront’s exploration projects to BHP for only C$25 million,” said Luca Giacovazzi, head of Wyloo Metals. “Rather than consenting to such a transaction, we decided to make an offer to acquire the company. Our fears were justified when the Noront board completed a deeply discounted 5% placement to BHP, giving away a strategic toehold in the company to an obvious suitor.”

You have to ask yourself: "Was 15 million of that supposed farm out of Noront's exploration projects to BHP for only $25 million going to go toward paying off the old Noront loan of 15 million that Wyloo acquired from the RCF deal?" Sure would have been nice if that could have been erased and at the same time deny Wyloo of the additional 10-15% increase in ownership over Noront that they now have..Correct me if I am wrong but I believe the loan was open...Was it NOT? Hey BHP...That could have been yours. Nice try Noront BOD if that was what you were trying to do ... Sure would have changed the playing field between Forrest and BHP, and also allowed you to keep your jobs. Because you know....Something tells me you all had the feeling you were going to be axed way before all this came about.

BUT again...You do still have stock in the company to ease the pain.

Just say'n.

TM.