TMAC vs. FTHello and good morning Longs:
I thought I would share some thoughts on the TMAC transaction from a mining insider the other day. It certainly gave me some perspective on maybe what some of the challenges with our project really are;
"Hello Yellowknifer69. Just read your ft bb post regarding Nico financing and role of Glen K and Dave M (who's that). Thought you might like to know that TMAC was acquired today at $1.75/share, by a Chinese mining company. These guys have deep pockets and they will need them. So why would someone find money for TMAC and not FT? Maybe FT are not approaching the right people? Maybe it is so small that nobody is interested? Maybe NWT is a shithouse place to invest? FT also lacks any particular bigger strategic appeal. My bet is the Chinese will be financing Gray's Bay before too long, and TMAC - Hope Bay is part of a bigger play to secure prime real estate with access to the Northwest Passage. What does FT and Nico really offer strategically? And particularly in a jurisdiction where the leaders of all governments (white and aboriginal) are bereft of vision and hamstrung by patronage, environmental terrorism and corruption and a victim mentality that favours handouts over work. Money goes where it has a chance of being multiplied. What is compelling about Nico, apart from a suntanned and slightly weary CEO?" Still staying Long, Yellowknifer