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.)

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Re: bnn-pinetree

Noront Resources

almost 15 years ago

in response to QQ_Girl's message

Correct me if I'm wrong but if NOT acquired a number of FWR shares over the past few weeks (through purchases or tenders) then they would have a choice to make about either selling to CLF @ $1.00 or retaining part ownership (or both as they could sell just a portion).

If they sell then they will have additional $ in the coffers for the drill program. I belive Wes stated around the beginning of December that they had $25MM in the bank to fund the drilling. They may have spent some of this on FWR shares but no doubt will make a profit on that spend. It could very well mean we have a lot more $ in the bank, can continue/expand the drill program and....won't it also mean that the 'dilution' word that people have thrown around will be............. reduced, after all we will have more $, perhaps even double or more than what Wes mentioned back then. I'm not seeing a win/lose here for Not, it's a win/win.

GBANSH

Jeeper