OTCPK:NOXOF - Post by User
Comment by
jsnfernleyon Mar 22, 2010 6:12pm
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Post# 16911152
RE: RE: RE: Acquisition potential
RE: RE: RE: Acquisition potential"NOX can safely focus on drilling without the need to worry about a'take-over' until probably spring 2011 at the earliest."
Maybe. Maybe not.
The Brett/Osisko deal is voluntary. NOX would be more apt to be a hostile target for someone like Richmont. They own the Camflo mill right next door. They have a new board of directors with a corporate type agitator from the apparel industry as chairman with an ego the size of the Grand Canyon (read his bio and tell me he didn't write this himself). They have cash, not many shares out, and have made it known they are (um, I mean he is) not happy about their lack of profit.
NOX would be a perfect fit for them. They have the cash to get underground and get mill feed. They can worry about open pit later.
I'm still wondering when the vultures will start to swoop down on the smaller juniors that have something (equipment, underground infrastructure, resources) seriously undervalued or without the cash to develop, and put an end to the gentlemanly deals that appear to be the norm for the junior industry.