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.)

almost 16 years ago

in response to semismart's message

The 40% 'in the bag' is a high worst case sort of guess and normally 40% would give control. Fortunately these aren't normal times AND this proxy fight is far from average.

Retail Shareholders vs Participants in large Private Placement might be the 'title card'.

This isn't about day to day management of Noront or their properties or their exploration. It's all about some Big Guy's guessing at likely exploration results and market conditions and getting it WRONG.

OK there is no question at all in my mind that Dick Nemis guessed wrong too. That's exploration business and why it takes tough persistance to win. You and I guessed wrong buying on pull backs and adding to positions based on what we knew AT THE TIME we made those decisions. So we 'sucked it up' knowing that Noront never lied to us and reported results when they could.

Sorry but I find it impossible to have any more sympathy for these sophisticated investors than I have for my own decisions. My opinion of their attempting to take control and advantage of all 'retail' investors isn't even printable.