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.)

over 15 years ago

in response to cos's message

Planned sell? Needed capital?

The part I am struggling with is :

Someone needed to do this right before closing? Someone needed to dump that much all at once because they needed capital? Wouldn't they have had more capital if they spread the sale over a few days. You needed cash at exactly 3:30 and you needed it right away. You were willing to take much less to have it right away? Do you accumulate shares slowly over a period of days or do you show the world you want 10 millions shares Right NOW RIGHT BEFORE CLOSE. Will you get a good price?

The waiting hands to scoop the shares were ready and willing and had the capital ready? (This is the part that really doesn't make sense in the story). If people were ready with cash and had interest in the shares and were prompted this was coming and someone needed capital so badly why not do this deal differently?. Why so violently?Prompted means there was some time. If time was available spread the sales over a period of time.