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: A 22% haircut

Noront Resources

over 8 years ago

in response to NevilleD's message

Well, on second look it seems I read the NR wrong. I thought we were raising 5.5 mil @.35 AND 2.5 mil @45 flow thru. However, I now read it as 5.5 maximum, 2.5mil minimum in some combination of FT and shares.

So, this brings it down to around 5% dilution. ($5,500,000 / .40 avg cost = 13,750,000 shares / 257,000,000 outstanding = .053 dilution or 5% dilution.

There is also warrants to consider but this number is at least bearable.