A Source has told me that 6 majors are doing serious DD right now and that management will take offers seriously. So far, there has never been an offer on the table for Noront to refuse. Some have alluded to offers of $3 and $5 for 10% that were refused by management and blamed management for being too greedy. This is false information.
Someone has made an offer for the chromite but this was too early in the process and we have too much too lose signing this early into the discovery phase. BB1 and BB2 are both very significant as per current drill results and with 3 more gravity anomalies on 100% NOT land, we have way more to easily prove up before making a deal. Now that we have decided to shut down Windfall until the right time comes, we will be able to slow down our burn rate considerably to weather the economic storm. The prices of nickel at 4.50 are unsustainable for most producers and as they shut down operations, we will resume a steady climb to a more reasonable range of $10 to $15 per pound.
At the price we are now, we are a steal...yeah this has been said so many times before but even in this environment, occurences like Eagle1 and our BBs are rare. They will be mined and as long as we own them, we will do ok from this price and probably up to $3.00. Once the uncertainty of the proxy vote is over, the manipulation will stop or slow down dramatically and we may rebound faster than everyone thinks, even without a white knight.
I have heard terms like: historic and never seen before to describ the level of retail vote in this proxy. We will make big news with this vote. All the current shareholders are now aware because of all the calls they have received that Not is not only alive but is an extremely sought after company. These 6000 investors will have their ears to the ground and those that can, will increase their share count at these ridiculous prices. I predict we will be back over the $1.00 mark by Friday next week...Knowhat, do you want to bet a beer on that one?
Goodnight,
Glorieux
