Noront Resources Ltd. NOSOF

Metals & Mining Industrial Metals & Minerals

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.

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Noront Resources Ltd.

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Post by wheelsonthebusson Nov 04, 2021 1:15pm

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Post# 34087533

Deadline extended - Why ???

BHP and Wyloo are mulling "a mutually beneficial arrangement regarding the acquisition of Noront by BHP." When asked if Wyloo could end up retaining an interest in Noront, spokesman Meagan Murdoch declined to comment. Since the spring, Wyloo and BHP have been engaged in a battle for control of Noront. Last month, BHP launched a $419-million tender offer at 75 cents a share, out gunning Wyloo, which previously offered 70 cents. For BHP to succeed, it needs to obtain half the shares it does not already own in Noront. The deadline for shareholders to tender to BHP's offer was Nov. 9, but that has been extended by a week. On Wednesday, Noront shares closed at 79 cents, four cents above BHP's takeover offer, indicating that some investors still believe BHP will end up raising its bid one more time. Noront's Eagle's Nest project has the potential to produce high-grade nickel.

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