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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Cupcake, I had a similar question when I first read that but now understand it to mean that if, after counting all the sale elections, Wyloo has 90% of all shares (e.g. <10% still outstanding), then Wyloo can choose to force the remaining 10% to sell at $1.10.

However, reading it again just now, it occurred to me that through all this Wyloo is only offering to "buy some or all the outstanding shares it does not own". Is it obligated to buy any of them? Presumably it must buy any for which the shareholders "elect to sell". What I'm getting at is that if all shareholder were to elect to NOT sell their shares to Wyloo, then would anything change? and what would happen to the SP afterwards?

Clearly we need more details about the offer.

Hobbit.

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