Interesting Numbers.....What can we expect?
Lou64 shared a link earlier today showing Wyloo with a bid in for Mincor, a nickle producer in Australia. They offered 1.40 per share......that represents a 35% premium to the share price of 1.04 when the offer was made.
Wyloos first 'offer' for Noront was 0.31.....which was a 35% premium to the 0.24 Noront share price at the time the 'offer' was floated.
Wyloo eventually paid 1.10 per share for Noront, which was a 360% premium to the 0.24 when Noront was officially put into play.
It appears that the hand writing is on the wall for KWG. Hard to fathom that we will not officially be in play in the relatively near future.
If it is Wyloo and they bypass the 35% nonsense and go straight to 360%.....that gives us 0.14 per share. More nonsense, and the good news seems to be that KWG may have enough retail control (which sadly, Noront did not) to garner a very, very good buyout price.
What do everyone expect going forward? One bidder? Multiple bidders? Will Cliffs circle back? What about the role of FNC?
Come on with the final report from Quantec on the magnetotelluric survey and let's get this started.
And what about an update on this: As part of that process, we will
seek an alliance with an industry operator of appropriate heft and reach. From the pen of Frank.
Good time ahead me thinks