GREY:PORMF - Post by User
Comment by
basemetalon Mar 23, 2005 10:18am
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Post# 8797450
RE: curious about the 2:1 consolidation
RE: curious about the 2:1 consolidationNovicourt's restructuring is tantamount to a 50% buy-back of the common shares. The enterprise will now be enjoyed by the 50% remaining. The market seems to be charging only for retained cash and working capital .... everything beyond that seems to be offered free !
Noranda will still have a 60% interest in the smaller exploration company. That seems foreign to their usual purposes and I too wonder if they'll exit with a secondary offering. Whatever happens, it would be to their advantage to guide the restrucured company to exciting exploration targets.