I'M SORRY CANADA...S C R E W E D BY WYLOO PDAC is in June this year..If I remember correctly. I guess that month was to give every public investor time to either recover from, or forget, that what is about to happen to the Ring of Fire and Noront could be the fate of any publicly traded mining company that they decide to invest in. I don't know about you but as a retail investor in the Canadian mining space letting the Ring be taken private would definitely leave a bad taste in my mouth. Especially, if I have to worry about investing in any worthwhile deposits that may get government approval, at anytime, to be taken private. What is happening to Noront right now could be setting a very bad precedent in the Canadian mining industry. A precedent where every investor now holding shares in a publicly traded Canadian mining company now has to worry about their BOD being wooed into allowing their company to go private.
That something as simple as a "Retention Election", which as far as I am concerned is not transparent, could be used at any time to remove the unwanted shareholders with a BOD's blessing. In our case our BOD should have put Noront on care and maintenance ages ago, but they did not. Now, as the market is taking off, and has been since the start of the year, do they allow for us to be taken for a song. This, unto itself, deserves question. Again....Who advised our BOD to do this in light of a market whose potential was seen by many experts as one about to explode? Who said, "Don't wait....sell, sell, sell"....before shareholders could see what was going on...This is a travesty of justice IMO, and has what many would call the foul stench of corruption. I feel as if I've been setup on a tie like a golf ball, and then smacked like Chris Rock.
I'm sorry Canada....When given the choice I will not stand on guard for thee.....Screw you if you let this sale happen.