NOT wants FWR and the real reason is not quite clear and can be and has been debated (Cr, PGE's, NI, ROF consolidation, etc...). Assay results of NOT are not all known to the retail investor by the way. The cards are not all laid out on the table. What is going on behind the scene is kept secret.
All we can say is that FWR's SP is being supported by the institutions at around $0.50 and that NOT's SP is lowering and seing some institution selling. The ratio is getting closer to 3/1 which is possibly the deal ratio that could be negociated behind the scene? Just a thought.
Be sure that lots of back and forth talking is being done between various interested parties and something will come out of this. They will probably try to get a deal that suits all parties. The first attempt for a take over by NOT may not succeed, but it may not stay that way? And other players can show up too?
Many in the ROF were not too happy with what happended to NOT when a hedge fund company took over Noront in quite an agressive manner and they want it differently this time. Mac seems to be more powerfull than many think and he does not want to be shoved aside like RN did. NOT's BODs is comprised of highly competent negociators in acquisitions so negociations are going to be tight.
Let's hope for the best outcome...
JH
