Since being bombarded with Rosseau's request to take on NOT BOD, I've had some time to digest what's going on with both , NOT and Rosseau.
Firstly, I must applaud each and everyone of you for your valiant effort to swing the vote in favour of the current BOD. Like many of you, I have voted my shares in favour of the current structure. At this point in Rosseau's communication, we have absolutely nothing to make an informed decision on, other they want us. Not good enough!
Hedge funds exist to cover the downside/upside of a market and maximize wealth for the well healed investor. They protect downside risk in both bear and bull markets for pension plans, institutional investors, corporations etc. Maybe, just maybe, Rosseau is working for thier client? Who could that be is the question I need answered. Only they know. If you get a chance, read several U.S. newspapers and you'll find many Hedge funds are winding down as they cannot sustain profitablilty and basically cutting losses at this point. That's not saying all are doing this, however, the weakest hands are folding at this point.
We all agree, at this point that NOT is tremedously undervalued, however, should a white knight appear on the scene, do you really think we'll maximize value with them at this point in time? Not likely. Just deeper pockets to keep the vultures away.
The true value of NOT will be realized in many months, maybe years. Not days and weeks. Like many of you, I have become engrossed in this action by Rosseau. They are a wolf in sheep's clothing at this point. Any attempt to replace directors'/officers of company by another company generally is accompanied with at least a brief outline of what they want to do going forward. Haven't seen this yet either. Had a call last night from a gentleman who could barely speak english. (New Canadian: Diversity School taught me that term) he very politely read from a script, and couldn't anwser any of my questions. I told him I had one question. Go back to your boss's and ask, what exactly is it you are planning to do with Noront? I need to know this!. Gave him my name and number and ask for them to call me back with an answer. I really don't expect a reply.
So my point in all of this is simple, vote with your head and not your heart. anyone with a right mind can see through Rosseau and thier current intentions. Fleecing, hosing, hoaring, whatever you wanna call it, it will be done the the average guys if we let them. Please vote with the infromation you do know at this point. It's only come from the same baord that has led this company from the inception.
