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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RCF is now way ahead of Baosteel?

Noront Resources

over 12 years ago

Just wanted to be sure: RCF with the $10M PP (19.2M shares) now has about 40M shares of NOT (= 40/208 = 19.2% OS give and take a bit). If this is true, then...

Questions (too many): Why Baosteel just wanted to sit at 9.9% level (by buying 2.56M shares for $1.33M) while it has an option to increase its holding to something like 19.9%? Is it because it is does not have to do this right away (can do it at a moment's notice)? Or is RCF a proxy and can be bought out if the price is right? and Baosteel want to have some dry powder in reserve. So, hypothetically speaking there are 2 blocks of approximately 20% + 10% +10% (in reserve) = 40%. That would be enough to block a hostile TO? Note that 20% +10% is not quite 2/3, but with the 10% in reserve that would push the total over the 1/3 level.

I think Baosteel just wanted to "keep them guessing" like in the Oil of Olay commercial.

Just speculating.

goldhunter