In response to the email below I first received an email from Kaitlyn Ferris, Manager, Corpporate Responsibility (not sure where Olya is) on the following day advising me to call and she would direct my call to an appropriate person. Sometime later I received a voice mail from Paul Parisotto stating that I could return his call. I did that and had to leave a voice mail for him. To my surprise, while eating supper, I received a second telephone call from Paul. He was in his vehicle and the reception was very spotty. He suggested that we hang up and I would call him back which I did but the connection was not much better.
Between the broken up conversation I did gather that the RCF deal was the best that could be had in the present economic environment, and cash is needed to advance the project, EA, permitting etc. I stated my concern re the 0.45 sp guaranteed for RCF until dec/15, and the possible (likely) 15% interest charge from a "partner". I stated that my concern was a sell out by RCF for a pittance of our true value (referenced Baffin Iron Mines). Paul stated that "we are a smart board" and that it was his belief that the "market" or other "entities" would not stand by and see a steal of Noront. The connection was so poor that I did not ask any qtns re timelines, progress etc. Paul did state that they were "pushing hard" for the feds and province to announce infrastructure by September. He also said that he was always happy to speak with shareholders. Don't shoot this messenger, but my conversation with Paul was courteous and cordial if not terribly enlightening.
As someone else has already said (fossil I think), I too voted in favor of the proposal today. At this point, I guess for me at least, I need to content myself: that RCF requires multiples of the present sp to make money; Bao wants the raw material(s); Ontario needs the jobs & revenue; the federal govt are seemingly onside; the Aboriginal groups seem more onside, and finally I somehow believe that the BOD of Noront are indeed smart in each their own way, and will either bring Noront to development stage, or be able to fetch a decent offer from some entity.
Pete
Good Day,
I am really not sure if it is Olya or someone else receiving this but I would appreciate a reply. I tried to call the office but did not get any answer.
Please advise me why I need to be on board with the RCF deal(???) from all reasonable appearances loan shark mentality.
Were there no other options for financing available?
I am not the expert, but I do have approximately 100,000 shares and definitely do not have a positive vibe about the latest development.
Perhaps you can convince me otherwise??
Sincerely,
Peter
Labrador
709-xxx-xxxx
