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: I'm keeping my shares to add to the 20% +/hopefully lots are like me...

So March 25th is the last day to choose the election to convert your shares to the "new" Noront.  But what I am looking for clarification from the offer documents available tomorrow is:

1) If the retention total on March 15th is over 80% making the forced sale inactionable, the option to accept the election stands until March 25th but if one does not choose the election what is the status of those "old" Noront shares. In the case of KWG/Spider/Cliffs, Cliffs acquired over 80% of Spider shares and was looking to exercise buyout of remaining shares under "a statutory compulsory acquisition or squeeze out transaction".  Will be looking for this wording in the offer docs.  KWG challenged the valuation/sp offer and went to court but eventually sold their Spider shares to Cliffs

2) If choosing the election to "new" Noront shares, is this a new listing and when are these shares available for trading. Concern is if this action results in dilusion or rapid increase of the sp and am not able to divest.

3) Is there a definitive confirmed plan forward.  Current ocmments from Wyloo seems to indicate they have had little or any consultations with FN's or governments.

Hoping these issue will become clearer tomorrow.  Good luck to all.

 

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