Noront Resources Ltd. NOSOF

Wyloo offer at 70 cents or keep investing

[greasemonkies]

https://www.wyloometals.com/noront/

[lou64]

Read page 5 of their so-called proposal ?? There is no date and it clearly says they will be reviewing noront's books and work ... If they find issue the deal is void at Wyloo/ Forest discretion ... seems a big wipe the slate with board / management with wyloo replacements but must be approved by Noront's board ... what a joke about the board must approve their removal ??? Why would Wyloo

[HaulJockey]

Call me Optimistic but I like it. I really can't see a downside to the offer. You could sell now for .82, wait around and maybe only get .70, or this could be the brass ring you've been waiting for. Worst case senario you end up getting .55 if the deal with Wyloo goes south which in my opinion is NOT (pardon the pun) going to happen. Regardless, the .55 back door deal this board put

[startenout]

Toutching on your point. Noront Resources The Odey fund's position in Noront Resources is at 11.59% of its net asset value, and Courtenay said it is subject to scaling back within UCITS guidelines. He highlighted the stock in his July letter. He said the company is already on its path of acceleration to intrinsic value with a counteroffer from Wyloo Metals in August. The Odey fund

[wheelsonthebuss]

Answer -  it was unusual for the fund to pay above a binding offer price for a stock, Courtenay judged the upside potential of the situation as "highly unusual," with net asset value estimates between $2 billion and $11 billion compared to the initial offer for the company.  O YAYAYA !!!!!!!!!!!!!

[Galaxym31]

how could this estimate be such a range 9 billion $$ ?

[RatPatrol]

VERY WELL DONE HAULJOCKEY!!!!! A bird in the hand! Go to the front of this class! It's becoming clear that Wyloo... 1) Wants the $$$, 2) Has no intention of furthering ROF development or even exploration    3) Is no match for BHP (or any other mining company, large or small). We c..... DYODD

[HaulJockey]

Not sure what you're getting at or how you're getting there but I think you're mistaken. Don't tell me you're thinking of selling for .55? Tesla is selling for around $744, I wonder if shareholders would sell for 31% less than market.

[Galaxym31]

what do SH  feel is a fair offer ?  I feel a minimum of 1 billion .

[wheelsonthebuss]

I feel a min. of $1 Trillion or more .... DONT SELL DONT TENDER ........... O YAYA $$$$$$$$$$$$$

[RatPatrol]

Hauljockey, 70 Canadian pennies per share is the number that Wyloo values your shares, and by extension, all shares. ALL mining companies, IMHO, have been burned by self-inflicted financial wounds of prior commodity cycles. There are plenty of examples. Infrastructure costs, - and judging by your handle you know more than I do about roads for example, are a MAJOR offset - read cost - to getting

[Edgy11]

AFAIK, the Ontario government has committed to building the roads - so that cost shouldn't even come into play. 

[RatPatrol]

That a very good point, Edgy11. It's not only the cost of the infrastructure; it's the delay caused getting permits. For example, Western Copper has drilled out, proven up a very large, economic copper, gold, moly, silver deposit called Casino. Federal gov't promised an "industrial" road of 120km about 6 years ago. Still waiting. The golden triangle now hosts 3 big new

[HaulJockey]

[doggy123]

https://miningwatch.ca/news/2021/8/6/coalition-finds-noront-has-not-disclosed-business-risk-indigenous-opposition-calls-osc

[HaulJockey]

Old one sided news article without context. I don't understand why people keep suggesting that First Nations can't hire lawyers or negociate. Do you really think a mine road is just going to sneak in the "back way" without being noticed? Come on people, this is the 21st century in Canada. If there is something to be worked out, I could presume it's in motion and could be

[startenout]

Hauljockey, what i would really like to know is, was it your "SMART MONEY" that got out ? Or was it your "SMART MONEY" that stayed in??

[Dragon23]

Lol.....good point st-out...Personally I haven't sold a share yet,  as tempting as it is to sell a few... If twiggy gets it, I am definitely in for the ride....if BHP or someone else gets it.....I believe the price will be quite a bit higher than it is at present. My bet is on Twiggy.  Good Luck

[startenout]

If Wyloo does get it in the end, i would hope there is some sort of "contract " or rules sheet of how exactly it would work if you let your share " ride" so to speak. Its all kinda vague at the moment and may be irrelevant if there is someone else who puts in a superior bid to Wyloo's. It is definitely a large olive brach from Wyloo, and kinda sets the bar for the BHP to do

[RatPatrol]

Yes, Startenout, Wyloo's management put a LOT of thought into their offer. Wyloo doesn't REALLY want your stock IMHO. Wyloo wants to tender its own stock to an offer higher than 55 cents. I believe that Wyloo tried to sell its shares privately to BHP. Talks broke down over price. Soooo... Because development is so far into the future, BHP chose to bid for ONLY 55%. This would freeze