Two questions come to mind reading this NR
1. Why is Richard stepping down and why weren't we told by our own board of directors that this was in the works?
2. There are about 126,000,000 outstanding shares of Noront at this present time with from what I understand Rosseau, Pinetree and Sprott owning about 30 to 35 million of them ( and I may be off the target here a bit so please correct me asap). What do they actually mean by outstanding shares? Does it mean they are all owned by someone? If so we have 90,000,000 shares that are not likely owned by the larger funds. So...who the heck owns them?? Are we talking Noront staff and directors, retail investors and banks owning these shares. We're talking 2/3 of the shares being owned by others than the Funds trying to oust our B.O.D (note at this time I am saying the B.O.D. rather than Richard because I don't actually know what is going on with RN at this time)
If someone can clarify this for me I would most appreciate it. I'm confused. It appears that the minority of the shareholder base is trying to push its way on the majority of the shareholder base. This should be a one sided thing then unless large companies are in bed with the funds and they too hold large portions of the shares. Don't the JV companies also have ownership of these shares? Wouldn't they want to keep things the way they are? Confusing...and it shouldn't be at this point in time.
Mustangman
