We lost the first skirmish, but we have not lost the war!
Wes Hanson, President and CEO of Noront stated, “We realized from the onset that the successful takeover of Freewest would be a challenge, but it offered significant potential value to all shareholders, thereby justifying the effort."
Some comments were made about the 4.5% of Freewest shares tenderend to Noront on a fully diluted basis, calling it a total blowout, and an embarrasment, as a total score. Perhaps. On the other hand - if I heard it corretly - on the 1st and 2nd FWR/CLIFFS conference calls two fund managers pledged 11 million shares and 4 million FWR shares respectively. (They may have changed their minds. But all this now is water under the bridge.
The 11,755,018 Freewest shares that were properly tendered and deposited with Noront may have been tendered by individuals, like myself.
Personally, I face Noront's future with great confidence, just to list a few points:
Made a good return on my FWR shares
Picked up some more Noront shares today
This take-over bid gave a world-wide coverage to the Ring-of-Fire, the news might have even spread as far as Ottawa, or even Queens Park.
Our management willl continue to focus on aggressively developing its Ring of Fire assets including, the Eagle’s Nest nickel-copper-PGE deposit, the Blackbird chromite deposit, the AT12 nickel-copper-PGE deposit and the Triple J gold zone;
Nemisville, here we come! Infrastructure is coming to The Ring of Fire mineralization district. Pessimist analysts, doomsayers, rejoice! The crown lands will not be developed without significant public input, so fair access to all wil be ensured.
God bless! Up Noront!
durban1
