Nordex Explosives Ltd V.NXX

New Control of Nordex

[Bboomer2]

At the AGM they approved the "Person in Control" or whatever the term is.   Can we assume (!) Zuckers will put someone from their camp into that position with Taylor et al responsible to him/her?

since the departure of Rajotte is anyone out trying to grow the business?  In recent times, the Matchewan pit has been completed....no truck a day sales there.  Black Fox is winding down...that volume will be gone with it.   Lake Shore didn't go with Nordex.   The Butt Buster seems like a bust....What's being done to recover these incomes?

Is there anyone out there knocking on doors?  It's not Leclerc, Rajotte, McKnight, Schumacher or Taylor Jr.  Who's left?

oh yeah Jim....get someone to update the website.

[forcite]

As far as I know the only door knocker they have left is Janoff the dinosaur who is avoided as much as possible by all the clients cause they can't stand him. Too aggressive and pushy. 

[tayjon80]

Bb : A control person is not a ''person'' per se...it means that if the major subscriber to the debentures which are convertible to common shares were to elect to convert the debentures to common shares, then they would control more than 20% of the stock in the corporation. You are right though, it does give them a pretty big club somewhat depending on what the conversion criteria

[tayjon80]

Just noticed the last PR...debentures are convertible at holders discretion...so yup, a pretty big stick. When you consider that BoC prime is about to hit 50bp, well 11% is pretty expensive debt. Company did grow from $1m to $20m in the last 10 years....somebody must have a clue.