Norra Metals Corp V.NORA.H

Alternate Symbol(s): NRRMF

Norra Metals Corp. is a Canada-based precious and base metals exploration company. The Company’s principal business activities include the acquisition and exploration of resource properties. Its Norwegian assets include the Bleikvassli polymetallic, zinc-copper-lead-silver underground mine project and the Meraker copper-zinc- gold exploration project. It also holds a 100% interest in the Pyramid copper-gold porphyry project located in Northwest British Columbia. The Pyramid Property is located approximately 65 kilometers (kms) north of Dease lake in north-west British Columbia. The Company’s Bleikvassli property is composed of the last copper-zinc-silver-gold producing mine across six contiguous exploration licenses totaling 60 square kilometers (sq.km) of area in the Hemnes Municipality of the Nordland Fylke Province of Norway. The Meraker property is composed of approximately 21 contiguous mineral licenses totaling 206 sq. km in the Meraker municipality of Trondelag County, Norway.

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Norra Metals Corp

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Comment by bplondonon Feb 16, 2012 11:55pm

352 Views

Post# 19547604

RE: RE: RE: RE: RE: RE: RE: Orko Silver Provides a

I read 19.2 as essentially allowing both parties (either OK or PAA) to walk at the end of the Phase 1 period. I see PAA doing this only if they have bitten off more than they can chew with Minefinders and /or don't want to further dilute their stock by taking on La Preciosa at this time. I see Orko walking away unless they have a very positive feeling about going forward with PAA and that isn't going to happen unless PAA moderates their position somewhat and comes forth with something positive. That will include timelines which are acceptable to OK management.

I'm not absolutely sure about the smelter rights/$8 million. PAA may have more of a claim to them if it is deemed that OK walked and not them and it might be something for the lawyers to fight over. I'd have to pour further into the JV and I'm just not into it. Ultimately it will mean 17 cents a share more or less on any future takeout of OK I suppose.

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