Nobody needs a massive PP, we need a major stepping in for at least 10%. The new BOD is not likely to do a massive PP in this market where funding shortage exists to an extreme extent. Does Rosseau has the cash to participate at equal in a PP placement, me thinks no. Rosseau has another problem, on the left side of their balance sheet nothing is right (except for their stake in NOT) and on the right side of their BS nothing is left !
Forget about a massive PP, the prize to be paid by everyone is too high and it is not feasible in this market where redemptions are just a beginning trend which will continue brutally and fiercely.
We need the new BOD to attract a Major, and there will be Major for Noront's assets, turmoil or not, NOT's assets are too big to fail here, which major wants to see another run of with our prize for an apple and an egg and come out of the turmoil a lot better than the others lossing competitive edge, they have seen this happen before in the beginning of the 80's, Exxon passed with speed by RDS who continued their investments. Off course RDS made a likewise mistake in the 90's. Issue is which major has the brains (on historical case base), the guts (vs. their shareholders) and the power (ie the money) to do it and I can name more than a few, Mickey Davis is in the know (BHP), Cynthia Caroll (Anglo American) is in the know and some otheres just as well, mind you all these people are informed either by their own staff and contacts or by by members of our board.
