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Noront Resources Ltd. V.NOT


Primary Symbol: NOSOF

Noront Resources Ltd is a mining company. It is engaged in the exploration, development, and acquisition of properties prospective in base and precious metals, which includes nickel, copper, platinum group metals, precious metals, chromite, and vanadium. The company's developmental project consists of Eagle's Nest nickel-copper-platinum-palladium deposit, deposits of high-grade chromite and copper-zinc volcanic massive sulphide deposits which are part of the company's McFauld's Lake Project. Its assets are located in the area known as the Ring of Fire in the James Bay Lowlands, Ontario.


OTCPK:NOSOF - Post by User

Post by Jonot21on Sep 23, 2021 12:19pm
256 Views
Post# 33907719

FP/wire say bidding war for Noront not letting up

FP/wire say bidding war for Noront not letting up

FP/wire say bidding war for Noront not letting up

 

2021-09-23 09:26 ET - In the News

 

The Financial Post reports in its Thursday, Sept. 23, edition that a bidding war for a small Canadian nickel miner is showing no signs of cooling as its largest shareholder, Australian mining magnate Andrew Forrest, took a formal step to increase ownership. A Bloomberg dispatch to the Post reports that Mr. Forrest's Wyloo Metals Pty Ltd. said it notified Noront Resources to swap its $15-million (U.S.) convertible loan for common shares of Noront. That will increase Wyloo's equity ownership to about 37.3 per cent from 24.2 per cent, according to a statement Wednesday. Wyloo has offered to buy Noront for 70 Canadian cents per share, beating the 55 Canadian cents offer made by BHP Group in July that Noront's board agreed to support. Bloomberg says mining heavyweight are racing to control more raw materials key to the transition to low-carbon energy sources. Noront is developing one of Canada's largest potential mineral reserves in northern Ontario.

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