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KWG therefore had Canada Chrome Corporation stake claims along terrain best suited to a railroad right-of-way. This proposed railway should support the viability of the Big Daddy deposit and enhance the value of our 1% Net Smelter Royalty interest in it and the Black Thor and Black Label deposits"
The shares become freely tradable on the market. Considering the tax reduction, the net cost of a share hoovers around the 1,70 CAD (depending on the taxable income). The question is if any of the PP-participants want to trade their shares and at what price...
Let's not forget the latest august PP-placement:
Noront issued 8,928,500 flow-through common shares at a price of $2.80 per Flow-Through Share to raise gross proceeds of $24,999,800. Those Flow-Through Shares issued pursuant to "the Offering" are subject to a statutory hold period which expires on December 27, 2009.
Take in consideration the favourable tax implications coming with the flow-through shares.
Much more institutions have bought their way into NOT and FWR the last couple of years and sold..... The public statements and percetages you now mention are probably true, never the less they are only exact for the day. Things can change very rapidly.
SPIDER RESOURCES INC. , KWG RESOURCES INC. AND FREEWEST RESOURCES CANADA INC., PROVIDE EXPLORATION UPDATE ON THE BIG DADDY CHROMITE PROSPECT •
•
TORONTO, ONTARIO – October 14, 2009
Hole FW-09-29 intersects 74.9 metres of massive chromite mineralization.Metallurgical tests conclude that >40% Cr2O3 can be considered direct shipping
(“Spider”),
KWG Resources Inc. “KWG”) and Freewest Resources Canada Inc. (FWR:TSX-V)
(KWG:TSX-V) (
“Freewest”) are pleased to provide an exploration update on the Big Daddy– Spider Resources Inc. (SPQ:TSX-V)