Good thoughts K, hope you are correct.
I guess I am just trying to look at it from another angle also. If there are negotiations going on between Noront and other parties then we would have to conclude that the standstill provision has not commenced. In my opinion, the wording is a little vague on that. I certainly interpret it in two different ways. They cannot increase their position to 19.9% until May 2, 2012 but the standstill could already be in place, I think. If that was the case I guess we'd also have to conclude that the standstill provision in fact means no negotiations with other parties. I suspect that standstill agreements may have latitude to have several different meanings depending on the specific requirements of both parties. We don't know how ours reads.
"The definitive agreement executed between Baosteel and the Company provides Baosteel with the right to nominate one individual to the Noront Board of Directors, a right to increase their ownership in Noront to 19.9% for a one year period commencing on May 2, 2012 and a standstill provision which expires on May 2, 2013."
At the golf tournament Wes told people that he and Paul have brought several mines to the production stage. He made it very clear that they are there to do that on the Eagle's Nest project, not to sell the company before then. I hope that there are meaningful discussions going on as to why Noront wants Baosteel to increase their position. I'm not so certain they would be about a buyout. Just my thoughts.
