Noront Resources Ltd. NOSOF

My thoughts

[Macle995]

My back of the envelope calculation.

Because the NOT evaluation report has been issued today Wyloo can now acquire shares.

 

NOT Outstanding 554,306,976 shares (approx.)

Wyloo = 207,865,166 shares = 37.5%

Baosteel= 30,000000 shares = 5.4%

Wyloo and Baosteel total = 42.9%

They need 50%-42.9%= 7.1% more NOT share for control (50%)

7.1% is approx 39,355,789 shares.

 

NOT management and directors(including options) total 54,876,383 = 9.9% They must support a better cash offer from anyone.

 

37.5%+5.4%+9.9%= 52.8%

 

So if Wyloo bests the BHP offer by even 1 cent they have CONTROL, if no one offers more.

 

Or if Wyloo and Baosteel or it’s agents can acquired approximately 39.4 million NOT shares on the market. They will have more than 50% which is control without  the NOT management shares total 9.9 %.

 

My conclusion if BHP or anyone else wants control they have offer more and soon!

 

Any thoughts anyone.

[greasemonkies]

If OSC does an investigation on Noront due to a powerful entity sent a complaint in to OSC, the deal may be haulted/rescinded r modified? But I truly like your back of envelope calculation and I also concur, unless an investigation throws a wrench into thing's. If that happens an this deal falls apart can Noront survive long with huge debts over their heads and I believe those loans will be

[Macle995]

Well if Wyloo etc buy enough shares for control, it may not have be a official take over offer, so they don't have to make a better offer to the other shareholders. BHP has said they will withdraw the offer if they get less than 50%.Maybe maybe not. Then over time Wyloo etal can buy the remainer of the shares cheap over time. Any narrative about debt being called etc will just lower the price

[wheelsonthebuss]

perfect Macle995 - nice work ...... GO NOT GO ....... O YAYA !!!