Bidding war

Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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From_Sudbury

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Bidding war

posted on Jul 28, 2021 08:46AM

Two very relevant news stories yesterday:

1) Wyloo's intent to offer $31.5 for Noront shares just got trumped by BHP's $.55 all cash offer

2) KWG making deals to provide hydro and a means to rail the chrome out of the ROF

Important due to the fact FNC still holds a 50% interest in the claims next to Noront (KWG/Bold holding the other 50%)

At one time, FNC's total value was based on it's position next to Noront in the ROF

While this is happening, CIA seems to be heading towards new highs with earnings coming out tomorrow morning. Iron Ore prices have been on a tear and I'm expecting a great report from CIA, which is currently where most of FNC's current value lies.

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