Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

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Re: Dumb Question but

Noront Resources

almost 16 years ago

in response to 600V's message

If you don't vote, your vote is wasted.

Under typical circumstances, existing management puts forward items for voting at the annual general meeting. They give you the opportunity to vote for or against these items, but because most shareholders don't vote, management has the right to assume they are satisfied, and is allowed to count the unvoted shares in favour of their recommendations. This allows them to assume that a quorum has been met, the vote is valid and legal, and the company is empowered to move forward for another year. The original Noront proxy form contains statements to this effect.

However, when shareholders are asked to vote between two mutually exclusive options, as is occurring here, only votes clearly directed towards one or the other of the options can be counted. Any votes not cast cannot be counted, either for or against either of the proposals. The provision that unvoted shares go to management is voided by the presentation of a dissident proxy. If you read the most recent Noront proxy statement, you will see the difference.

Lar